Thank you very much. You saved me so much web search. I'm sorry about late answer. I recently had the time to work on this.
This is what I've done to get back online my HP Envy TouchSmart m7 Sleekbook.
1. Downloaded package with last BIOS version from HP Notebook System BIOS Update (Intel Processors)
2. Formated USB key with default parameters.
3. Renamed USB key as HP_TOOLS.
4. Executed package with last BIOS version and choosen USB key option.
5. Started my HP Envy TouchSmart m7 Sleekbook.
6. Connected USB key.
That's all. It instantly flashed new BIOS and restarted my computer and worked right.
I hope this save some time to you too.