Short explanation
Audio is routed from two Reason Essentials songs into a DJ mixer in Reason. Using MIDI loopback you can start each of the Essentials songs from Reason.
Longer explanation
On my Mac this involved creating an Aggregate Device using the Built-in Output and Soundflower 64. Four audio outputs are taken from Reason Essentials which are then run into Reason and into a DJ mixer. A more complex version of this setup (not shown) includes a switch for the Reason Essentials songs so that the output can easily be switched between outputs 1&2 or 3&4.
The MIDI control uses a Matrix to either Start or Stop the songs. Originally I had set up Essentials with the DJ mixer and no MIDI was involved. However if you want to control the transport Reason must be the master as Essentials doesn't have the External MIDI device required to do this.
Some more screenshots below showing audio and MIDI setup for this. You could definitely do this easier with a multichannel soundcard as you should be able to skip the whole Aggregate Device + Soundflower thing, neither of which I personally trust in a real live situation.