I don't see where ASP.NET has anything to do with FP extensions.
From the MS site:
The new product does not use Front Page Extensions. It IS 'backward compatible" with earlier versions of Front Page. If there is a webbot in an old site then you will be able to edit it just like you do now. You will not, however, be able to create a new webbot.
[edited by: Wlauzon at 1:10 am (utc) on Sep. 12, 2007]