Indeed, reseating the memory resolved the problem for me. The BIOS now reports 16Gb installed and enabled. CPU-Z reports dual-channeled mode in play. Why the BIOS reports on 4 slots when the board only has TWO is puzzling. When the memory is not fully enabled, Windows (as well as system info tools like SIV and HWinfo) report 16Gb "available". The GPU defaults to a 1Gb reservation but Windows indicates 6.96Gb enabled. Other reports indicate 9Gb. Resource monitor has 8Gb "hardware reserved". Some rather odd but interesting results.
The system (windows 8.1) seemed to work well unless taxed when it might crash probably because I'd turned off the pagefile (using 2 SSDs for HTPC toy). But at least it would boot reliably after replacing the CPU cooler
I'd avoid Noctua coolers for Gigabyte boards. Apparently, the Austrians, though aware of problems with these boards (mentioned in their support area re: other gigabyte boards), are sticking to their guns on PWM electrical specs and the 2 don't play well together.