I cannot confirm that updating your BIOS will solve the problem you mention, however your current version (1002) is indeed very old. I had an A7V8X mobo about 3 or so years ago which shipped with 1007. The current version offered for download is 1014 (although 1015 also appears to exist).
Be aware that not all versions of the BIOS are compatible with every A7V8X mobo - there is a retail version of size 512k, which is larger than the OEM version of 256k. The type of mobo you have will determine which size BIOS you require (most of the revisions produced by ASUS are of 512k).
It looks like you may be using an old version of ASUS LiveUpdate (although I seem to recall the program should check for updated versions of itself). If so, you can download v.7.09.02
here which *should* allow you to automatically update the BIOS.
Or you can manually update using the downloads from the
BIOS and
BIOS-Utilities links found on the ASUS website using the link in my first post.