I would doubt it.
In much the same way as the factory build keys will only work on the right hardware for Windows 7 I would expect the BIOS keys to be locked in some way.
Windows 7 Manufacturer builds are pre-activated in that they don't have to connect to the Activation servers. Windows 7 DVDs are not and must be activated on line. If you enter one of the build keys in the setup dialogue when it then tries to activate it fails even if on the correct hardware. We have lists of the OEM keys but they are mostly used to identify hacked systems, as it can be seen when the hacking fails.
To be honest you are trying to discuss bypassing Microsoft licensing on a Microsoft site but they have the system fairly well locked down so its not going to be so simple as to read the BIOS key, something we have been able to do for some time. You are trying to run two systems having only bought one license, the fact that the Acer is an upgrade so has a licence is irrelevant as it would be the wrong one. You may now have two keys for your HP, the Windows 7 off the disk and Windows 8 from the BIOS but they are under either/or terms.
Being able to read the key in the BIOS is fine but personally I never found a use for it. I use the utility primarily to get the OEM Office key before a reload as most users have lost the keycard with it on.