This issue is not fixed DM, at least not on the Z68X-UD7. It's better than it was with the F10C BIOS admittedly, but I still found that
1) The system is finicky as hell to get set up after a BIOS flash. It will still POST loop after a CMOS reset, and it is still possible to prompt the "Your system has failed because of an overclock..." warning (complete with zilched settings) at completely random moments - even when the darn thing's running at stock speeds. This includes, for example, using ctrl-alt-del to reset the system after running through an Alt-F12 backup BIOS flash!
Despite the fact that the mild overclock I'm running is absolutely rock stable (will survive over 24 hours of stress testing inside Windows, and *never* crashes), the only way to get it set up in BIOS is to make small incremental changes, and continually save settings and restart, putting up with random power cycles as I go. If I try to go from stock speeds to the full whack in one go, the system will start to loop, and eventually throw the "Overclock" warning.
Furthermore, once this warning has started to appear, it is almost impossible to force the system to boot. Go into the BIOS, set up any combination of settings you want (mild overclock, stock or underclock), save and exit, and as soon as it restarts, you'll see the warning again, and, once into the BIOS, you'll see that the settings you made a minute ago have been completely ignored, or replaced by the settings you tried a few minutes earlier.
2) The reset button still doesn't work properly. Sometimes it simply doesn't do anything at all, and other times, using it, even for a perfectly legitimate system reset after booting to a command prompt for some reason, will prompt the "overclock" warning - even if the system's running stock or underclocked! I know there's a known issue with the reset button on the GBT 6-series boards, but that doesn't mean Gigabyte have any excuse not to fix it.
3) If I select "Restart" in the shutdown menu of the OS, the system should, well, restart. However, I'm still finding that, almost at random, mine will suddenly shut down for a few secs and pause before powering up and continuing the restart cycle (with the POST meter reading C0 immediately prior to the power down). This is a minor issue but all those extra power cycles add up to extra wear on hard disks, not to to mention other components, and it's something that isn't an issue on other brands of board.
Oh and before anyone asks, this is all with the ME firmware updated.
Speaking of firmware, not sure whether the "culprit" is the ME, or whethe the problem is in the Award/Gigabyte code failing to program the ME. From what I've observed in testing, it would seem as though the main fault is on the GBT side. Seems like there are ways in which the board's backup BIOS/CMOS can cause more problems than it solves. Whatever the cause, though, it's for the board vendor to fix.