no, well, maybe. But, in my experience it's controller dependent, which is why one sees them as componets of the BIOS set up. My initial fear was, and still is, that the battery controller on you laptop is bad, or the controller on the battery is bad (if it's one of those "smart" ones). In other words, the battery is probably good, but the Asus firmware is misreporting the capacity to the ACPI. It may be that the steps of removing and reinstalling the physical battery and the ACPI driver for it will have no effect, so worst case scenario is, short of a board replacement or firmware upgrade form Asus there is no solution for you.
A work around is tell windows to ignore the LOW BATTERY and CRITICAL BATTERY conditions.