The NF2 does support dual channel. I don't know what processor you have, but there wasn't an offical 3400 for the socket A, to the best of my knowlege. But, that's not what dictates single or dual channel on that socket, it's the chipset. His via chipset may not, but there are plenty of NF2 boards that do support dual channel. Now, if it actually does any good is a different story.
Now. As far as adding memory. I wouldn't hesitate to add the memory if you have it. Running the memory assyncronous to the cpu doesn't always help, and in some cases hurts performance even if running the memory faster than the cpu. So, with that said, it might be better to just run the memory at 333 anyway, so putting the other stick in may not make any difference. Like I said above, adding another stick may make the performance decrease. But, depending on what you are doing with the machine, more memory can sometimes trump overall speed.
As for flashing the bios. It may not be necessary. Check the bios version release notes and see what the new version does. If it fixes a bug that is effecting you, then flash it. If it's just adding a new feature or updating the cpu table, it may not be necessary.