Actually, the only thing that changed when I downgraded to 1.07 was that the Ctrl key was disabled. I was still not able to enter the BIOS. So I went back to 1.18. Maybe there was an error in the update process.
I guess I will have to stay a not-so-happy customer with a desk filled with an extra keyboard until ASUS rolls out another update.
I still blame Corsair though, because they did something in the 1.18 update that broke its detection in BIOS.