I'd leave the bios alone, no sense in risking a chance of bricking your laptop over this.
I took the time to check out Absolute Software's FAQ's and discovered that LoJack is not limited to just laptops, it can also be installed on PC desktops too. Really, a better solution would be to encrypt the entire drive, it would seem to me, and keep a second drive copy (unencrypted?) around in case the original drive was stolen along with the laptop or PC.
At least with encryption, you wouldn't have to deal with the issues you are dealing with now. But, be aware that encrypting the main drive would mean that if the password was lost or forgotten, there would be no easy way to regain access to the drive again.
Only advantage to LoJack, really, is the promised ability to recover the system if lost or stolen.
Pity it came pre-installed on your system. There should be a way to remove it if it is not wanted, as soon as you get your laptop, and that removal should be relatively painless to do. Simple as that.
Looks like you need to contact Absolute in any case to get your system to work the way you want it to. Doesn't look like there is any other way to do it.