That usually happens when a device offers both DirectSound (WDM) and ASIO drivers, and is already used in DirectSound mode. In that case, mAirList won’t be able to initialize the ASIO part to determine the properties of the device (channel count etc.), and you see the error message in the system log.
If you don’t plan to use ASIO on that device anyway, you can just check the “ignore this device” option (mAirListConfig -> Audio Settings -> ASIO).