Many of the claims about the Bible Code are outdated. A full rebuttal was made in the fall of 1999 (Statistical Science Vol 14 pp 150-173). The rebuttal paper is Solving the Bible Code Puzzle, by Brendan McKay, Dror Bar-Natan, Maya Bar-Hillel, and Gil Kalai. Here is the abstract:

A paper of Witztum, Rips and Rosenberg in this journal in 1994 made the extraordinary claim that the Hebrew text of the Book of Genesis encodes events which did not occur until millennia after the text was written. In reply, we argue that Witztum, Rips and Rosenberg's case is fatally defective, indeed that their result merely reflects on the choices made in designing their experiment and collecting the data for it. We present extensive evidence in support of that conclusion. We also report on many new experiments of our own, all of which failed to detect the alleged phenomenon.
The most significant and damning conclusion from the rebuttal was that Witzum et al "tuned" their data to get the result they wanted.

A copy of the paper can be downloaded (pdf format) from: