You can now increase Memory voltage with rev 2.3.6.0. I am seeing a very serious problem though. I can increase and apply the selected voltage (example 1.64V) and it does seem the voltage is being applied. Now here's the problem, when you click "save" and then click the profile number you want to save into the memory voltage instantly drops to 1.4V, which is seriously to low. I click default and the memory voltage will go back to 1.6V which is the correct default. One time, I rebooted with the voltage set at 1.4V and my Ares II would yellow screen. I was very worried because the memory voltage was set at 1.4V. After about 4-5 reboots I managed to uninstall Asus tweak before the video card crashed. After removing Tweak my Ares II operated fine. Remember the memory voltage did apply just fine until you save and click a profile number.

I uninstalled and installed three times with the same results each time.
Also did a Norton Reg. Clean.
Running:
Win8 64 bit
Asus Maximus V Extreme
No overclock on motherboard
Latest AMD drivers