I'm using the same board and UEFI/BIOS version as you, and have used a GTX 650 card, but I did not have a problem waking from Sleep. But, your GTX 660 TI card is a new model, using a different chip (I think) than my 650, which also means a different VBIOS on the card. I'm NOT blaming the card, just saying it is different.
Your wake from Sleep issue with the failing video is a common Sleep failure, which plagued the earlier Intel P67 chipset and was never fixed. The Z77 chipset does not normally have this problem so I would not worry about that.
It seems that ASRock boards/BIOS tend to have more compatibility issues with video cards than other boards, and there have been a fair amount of BIOS updates by ASRock to fix the problems. I suggest contacting the ASRock person (TSD Emily, whose exact ID I can't find right now) that monitors this forum about this issue, and I have seen ASRock supply a tweaked BIOS that fixes video card issues, although they are usually fixes for complete incompatibility.
With all the things I tried with my P67's board's wake from Sleep issues, I cannot believe I never tried unplugging and plugging in the video cable again!
It's interesting to me that Hibernate works while Sleep doesn't. We are told the only difference is the image stored in RAM is also written to disk. But I wonder if the VBIOS is run again when waking from Hibernate? I've seen BIOS' that have an option to run the VBIOS on a wake up event, but our board does not have this as I recall.
The wake problem was also related to certain power supply's, what kind do you use?