Reason 3.0, Rewire, etc.

Prior to switching to Cubase 7 a couple of months ago, I’d been happily using Reason 3.0 in rewire mode with Nuendo without any issues for years. However, if I install Reason 3.0 and try to employ it via rewire Cubase 7 crashes as soon as I load it. Reason will however work fine as a standalone.

NB: I have Cubase installed as 32bit. I’m running Windows 7.

Thanks in advance for any wisdom any of your might have.