Cut off hard, rough ends of the asparagus and peel off scales. Lay asparagus on a 12 inch round glass plate in spoke style with end facing the outer edges of the plate. Wrap plate with plastic wrap and cut holes to vent. Microwave on high for 4 minutes, turning plate half way after 2 minutes. Asparagus should be tender, but still crispy when finished.
Let sit with plastic wrap on, for 2 minutes. Wrap with aluminum foil and place in refrigerator until chilled, about 30 minutes.
Mix together feta, lemon and orange juices, water, mustard, oil, and hot sauce.
Remove asparagus and serve alongside dressing and bell peppers. To serve, drizzle 2 tablespoons dressing and 2 tablespoons peppers on asparagus.