Linux is an O/S, not a program. OCZ has installed their firmware update program on it so that people who have their drive with Windows installed on it can update their firmware. If you want to update an OCZ drive from Windows then the drive cannot have Windows installed on it, it has to be a secondary drive in order to update the firmware from Windows.
No, you don't need to format the drive in order to update its firmware.
If fact, when you get around to installing Windows on the SSD don't manually format it; let Windows do it automatically during the installation process.
Also, just an FYI, NEVER Full format an SSD, just Quick format if you have to.