I have successfully downgraded the server firmware back to the version that was previously installed and VMWare is now able to boot.
https://downloadcenter.intel.com/Detail_Desc.aspx?agr=Y&DwnldID=23204&keyword=S2600CP&lang=eng
There is definitely something incompatible going on between the the newest update and VMWare ESXi 5.5 build 1474528.