initialization error with asio driver

Hello,
I am on 64bit Win 7 computer running max6, ableton 8.2.6 with max4live. I use the asio4all drivers to reduce the latency on m-audio fast track pro sound card.
when I start max after live, or start max4live and try to edit a patch I get

MSP ASIO: M-Audio USB ASIO: Initialization error -1000
No hardware found or already in use!

Is there a work around here other than not using asio, because I really enjoy the low latency with the asio drivers.
Thanks a lot,