When you swapped out your air cooler to a water block, did you use too much CPU paste? If so, you are not cooling your CPU correctly. Might want to check the temps.
Might also want to revert to bone stock and start the OC over. I've never seen an OC survive a BIOS update.
Also check on the ASROCK support page. If bios v3.2 is the source of the problem, there will be many many complaints.