Bring 3 quarts of salted water to a rapid boil. Add orzo; boil 5 minutes. Add asparagus; boil an additional 4 minutes. Drain well.
Heat the oil in a large saute pan over moderate heat, add butter and garlic. Saute 30 seconds, add peppers and peas; saute 1 minute. Add broth, lemon zest and salt and pepper to taste, simmer for 1 minute. Add pasta; toss well. Remove from heat; add Parmesan cheese; mix well and serve. Serves 4-6.
Per Serving: 301 Calories (18.2% from fat); 6g Fat (2g Sat, 3g Mono, 1g Poly); 13g Protein; 49g Carbohydrate; 4g Dietary Fiber; 7mg Cholesterol; 226mg Sodium. Food Exchanges: 3 Grain (Starch); 1/2 Lean Meat; 1/2 Vegetable; 1 Fat.