Yep It's the BIOS chip alright
basicly your dual bios technology kinda saved your *ss
cause without it you wont have anything to work with your motherboard
it is going to be like dead
If you didn't have dual bios you would have been screwed up cuz you need a new bios chip and the firm that asembled your PC dont have the rights to disassemble your motherboard parts
judging from your chipset yout motherboard is eather biostar or gigabyte
eather ways it goes to Taiwan and the experts decide that they should give you a new one...
its no big deal but you wait for several weeks...

also if you want to know if your MB is burned out,always check if the small lamp is on,it is often close to the floppy connector and ATX power supply so when your MB goes dead the lamp goes dead too.
well,not in all cases but in mostly it does.

and another helpful advice which i recomend you to listen to.
when there is a lightning storm and your PC goes dead,open your power supply and check a small horizontal lamp.if it turned black that means a lightning stroke directly to the power cables.
if not then get your LAN card out and start the PC
In most MB if you put a burned thing in a PCI slot it usually locks the entire motherboard

P.S. Personal experience