I'm having the same problem that Xilex and bones0721 are having. When I select the "Auto" button below the fan speed slider, it sets the fan speed to 0. When the card heats up, the fan does not kick on.
If I click the "Curve" button, I can check off "Enable Automatic Fan Control" and then select a curve preset. As long as I have PrecisionX running, the fan will respond to the changing temps. What's strange is that the "Auto" button is still lit up as though I have the hardware-based auto mode still enabled, but obviously the fan is controlled by software at this point.
I was hoping that this update would set the idle speed at 0, but still automatically increase the fan speed as the card heated up using some default curve built into the card. As far as I can tell, this bios update sets the hardware fan speed to always be 0 and forces you to always have Precision X running in order to control the fan speed. Was that the intent?