Since ASP.NET "speaks" named pipes with IIS...

• Download the FileMon utility from SysInternals
• Run FileMon and select Drives->Named Pipes only
• Set from Edit->Filters/Highlights to asp*.exe;inet*.exe to show only the named pipes between ASPNET_WP.EXE and INETINFO.EXE.
• You should see a periodic write from ASPNET_WP.EXE and read from INETINFO.EXE (some ping mechanism)
• Kill ASPNET_WP.EXE and you'll see the intital startup and handshake as inetinfo starts ASPNET_WP.EXE up again