AA is meant to redress inequality of opportunity, but where do you measure it from? If measured from birth or primary schooling, then a lot of Asians, at least here, where we have a lot of first or second generation migrants in the some of the poorest areas of the south-west of the city, would be disadvantaged in terms opportunity. If AA is looking at that, then it should not necessarily be trying to equalise the outcome, but compensate for the unequal opportunity. However, once you get past primary schooling, there is a very high intake of Asian students into selective high schools, which give them a great advantage in terms of opportunity. When looking at university admissions, should there be compensation for the initial lack of opportunity, or compensation to others who have not received the advantage of attending a selective school? There's more than one level of opportunity to look at. If anything the former would make sense; someone shouldn't be disadvantaged if they have manufactured an advantageous position out of a poor socio-economic background.
Of course, this isn't going to be the case for all Asians at all, either. Not all Asians live in the south-west suburbs or come from lower-income families, and not all Asians attend selective schools. I'm really not opposed to the principle of racially based AA, but at least in the Australian context, it simply doesn't make much sense to apply that as a criterion in this case (specifically with regards to Asians). The determinant factor, if anything, is the socio-economic background. We also have what I think is a far fairer system based on state-wide high school testing, and university admission (apart from a few courses) is based purely on academic merit. There is not the need to redress Oxbridge style institutional bias in selection. But then, we don't have colleges in the same sense either; the majority of people commute to uni and live at home. And the situation with regards to Asian advantage/disadvantage is probably different in the US too. So it's hard to say how applicable this is to American unis.