I've had experience with the BSOD with NVIDIA driver updates for Windows 8 for nearly a year, and found a workable solution, until now...
I have to use a very old driver (306.97) for my Dell Inspiron 530 with GeForce 8300 GS card. ANY driver update causes the system to freeze shortly after restart. I have to force a restart, and work very quickly to roll back the driver, and restart. I have tried every single driver update, up to and including the latest: 327.23. Same result.
I have had to disable automatic updates, and be diligent about not including ANY NVIDIA driver updates from Windows.
Now, when installing 8.1, I'm assuming it is automatically updating the NVIDIA driver to a more recent version, which is causing the exact same freezing and BSOD I've been dealing with for a long time.
The problem with the solutions presented here, is if I uninstall the old 306.97 driver I currently have, which WORKS, and install 8.1, I'm assuming it will install the most recent NVIDIA driver, which I assume will not work, and since I would have already uninstalled the only driver that does work, I won't have a driver to roll back to.
I'm not sure I want to try this...