Hm, never heard of that "Sensaura" thing.
When you play multiple files on the same sound card at the same time, and you have "hardware mixing" enabled, BASS.DLL will hand the streams separately to the sound card (driver) which will mix them together. This is the default behavior and does not use the CPU, but it will not work with all sound cards, especially when different sample rates are involved. With "software mixing", BASS.DLL (or, more specifically, BASSMIX.DLL) will perform the mixing and resampling and hands a single stream to the sound card. This involves a little CPU overhead but is a good option when you encounter problems with multiple streams.
ASIO ouput is always software mixing, because ASIO drivers only support a single stream in the first place. For ASIO, the output chain is BASS.DLL -> BASSMIX.DLL -> BASSASIO.DLL -> ASIO driver.