I understand that you are inquiring if the PCI slot is working on your motherboard and if the BIOS updates are only for Windows* 7 operating system.
In regards to your inquires, I can confirm that the blinking cursor that you are receiving means that a device connected to the motherboard is not properly recognized. This also means that the PCI port is working, but to confirm you should test with a different card on that slot as it may be a compatibility problem between the motherboard and the card.
In regards to your second question, the BIOS is operating system independent meaning that the BIOS update can be performed even outside of the operating system via recovery method, F7 or ISO.
You can find the instructions on how to update your BIOS at the following web site: