Combine first 8 ingredients in a small saucepan; bring to a boil, stirring constantly. Set aside, and keep warm.
Coat a nonstick skillet with cooking spray; place over medium-high heat until hot. Add asparagus and red pepper; saute 3 minutes or until tender. Add green onions; saute 30 seconds. Remove from heat; stir in parsley.
Cook pasta according to package directions, omitting salt and fat; drain. Place pasta in a serving bowl. Add peanut sauce and vegetable mixture; toss gently. Serve warm. Garnish with additional asparagus spears, if desired.