ya, i have an asus mobo and i can overclock through the bios. there is a risk of course, but you can minimize the risk as long as you take the proper measures. make sure you have a good cpu fan to keep the processor cool. the big thing is to not fry your processor. make sure you have good ram that will be able to handle the overclocking. having the proper ram is very essential to overclocking.
most mobos now have precautionary measures to where if your computer can’t handle the power you’re trying to deliver, it’ll cut off, and you pretty much know that you need to get back into the bios and crank it back down.
just be careful, and take it very slowly.