You could try vs.exe +new -sc <empty (config) dir> to check if it gets better.
But you should 1st check the File Extension setup for 'asp'.
There is a (new) 'HTML Options' button at the bottom of the dialog, which brings you to 'HTML Formatting Options', which has a 'Tag Options button', which finally let you adjust 'Content wrap' settings...
Maybe your issue is related that.
HS2