Yes, that is how you access the BIOS settings that allow changes to how your computer sees and uses the hardware. My experience with eMachines is there are few to no settings in the BIOSes that allow OCing. But, maybe you have a BIOS that will allow you to change the FSB, the CPU and RAM voltage, and maybe change the RAM speed with a divider to allow OCing.
I believe he mentioned divider, not driver. Drivers are used by the OS to interact with hardware - I think what he was referring to would affect the physical board and affect the BIOS - pre OS configuration.