The OC process certainly will take you over the unstable stages... it's not about the BIOS,it's about how the OC'ing works... - you do need time to find the stable settings...
So, if the system works and you just see instability during OC'ing, then most likely it's about your settings, not the BIOS... in this case I would not update BIOS...
The 1404 version was pretty good for OC'ing if I remember correctly...
It also depends on which CPU are you using... 1404 is for SB-E, if you have IB-E, then you should update...