I wanted to share my experience with a NUC5i5RYK. It did not break activation for me.
My device came with an older bios. I flashed it to 246 originally using the F7 method, and installed Windows 7.
Today I made a bootable DOS USB drive and flashed it to 247 and rebooted. Windows activation did not change.
Haven't yet tested a clean install, but on this system it was fine.
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Furthermore to my test, I was just now wailing away on the system with bios verions below 247 with the F7 method.
I think something subtle changed in 247 because 246 seems to have a more "steady" picture..
Flashed down to 137.
Couldn't do 132 or 130 got the FWUpdate error.. then I could only do 246 or 247 and couldn't go back to 137.
Yellow jumper trick got me back down to 137. Might see if I can flash lower, but for now I recommend 246 over 247.
In no case, including the yellow jumper at 137 did Windows Activation get hosed. Then again I never did install that update for "detecting counterfeit" because I felt it might make it harder to do bios updates and stuff, so I didn't want to risk that.