The drivers from the CD might be outdated and it can cause incompatibility with the recents drivers of Windows 8.
What parts from the motherboard are you trying to update? The audio card, chipset, ports?
Download the lastest drivers from here: https://www.asus.com/Motherboards/P8Z77V_PRO/HelpDesk_Download/
And use this to update your chipset and Intel HD Graphics: http://www.intel.com/p/en_US/support/detect
If possible, explain with more details this part:
"... the system will reboot twice."