The guide provided by Crucial here is quite PC-hardware centric, that's why they talk about BIOS, I guess. Forget BIOS in a Mac context.
You say you burned a DVD. I've downloaded the ISO file from the update page, burned a CD and I couldn't boot from it either when pressing 'C' upon restart (as explained here: http://support.apple.com/kb/HT1533]. The CD spun, but except for the noise nothing happened. (I own a Macbook Pro 2.2 GHZ Intel Core i7 (early 2011)).
I've checked the ISO file, it is a Linux boot CD that I suspect is not tuned for Mac hardware. I'd say contact Crucial customer support.
(The guide states:
Firmware version 010G includes improvements which are specific for Windows 8 and new UltraBook systems, although Windows 7 and other operating systems and computer platforms may also see improvements.
so maybe you are not missing much...)