You do not need to update the BIOS to run that card. You will of course need to install the appropriate Nvidia drivers for the card though. The Zotac GPU will fit your board no problem. The only issue I can see would be if you have a case that does not have enough clearance for the length of the card, but since it's not an extremely long card, about 266mm for most Zotac GTX 770 models, it's probably ok. You should double check by measuring from the rear (Inside) of the case to where the hard drive bays would interfere with the length of the card towards the front.
The PSU you chose is another story on two fronts.
One, it's a tier 3 unit, and is not really recommended for a high end gaming rig with a top shelf card like the GTX 770 OR for any system that has overclocked components.
Two, it only comes with 2 6 pin PCI cables and the GTX 770 needs one 6 pin cable and one 8 pin cable. You CAN use the molex adapters that come with the GPU, to connect using the four pin molex power cable coming from the PSU, but using molex adapters is not a recommended method of powering a gaming card like that. I'd highly recommend a better PSU. Something Tier 2B or higher on the list I linked to above. Any of THOSE units should have the necessary cabling AND be of sufficient quality to ensure you have no troubles with your system.