Right-click on the ASIO capable application or the shortcut to the application and choose "Run as Administrator".

Or do the following:

1) Locate the executable for the third party app (in this case, Reason)
2) Right-click on the executable file and select Properties
3) In the Properties window, select the Compatibility tab
4) Check the box to "Run this program as Administrator" and click Apply

You will need to do this for the alias on the task bar or any other shortcut as well if you want to launch it this way.

You should be able to use the ASIO driver with application when lauching it directly from the applicaion or shortcuts now.