After further reading, it appears ASM/ME is only effective at protecting "Guest" attached volumes. Which means I am out of luck using ASM/ME in my configured test environment.
I need to add an iSCSI volume within my VM using the Microsoft Intiator. This volume would be a different volume on my Equallogic than the volume attached to my ESX hosts.
After discovering this, It sounds simpler to just keep everything on VMFS (os and drives) and simply backup the VM using traditional tools (veam, vranger) and OS shadow copies or use ASM/VE to just snapshot the VM's. To get granular recovery I would use OS shadow copies combined with 3rd party tools such as vranger FLR or exchange recovery. Any thoughts?
Think I pretty much answered my own initial questions.