CrystalMethod is correct. I just went to the Asus site and looked up that mobo. That connector is for supplementary power INTO the motherboard. It is not meant to supply power to other components, i.e. no fans, no drives, etc...
On the other hand, if you DO have the square 4-pin P4 connector right next to it plugged in, then it actually should work fine for fans running off 12v only. The 4-pin P4 supplementary connector doesn't have the 5v line (if I remember correctly). If you plug anything other than a 12v only device into that extra connector, then you would be drawing the 5v from the mobo, and that might give you problems.