Launching Melodyne Standalone w/ Reaper

I'm new to Reaper, coming from Sonar. In Sonar, there has always been the ability to launch standalone utilities from a menu within Sonar. After you edit the audio, Sonar reinserts the audio. I would like to be able to select an iten in Reaper and with a simple keystroke launch Melodyne standalone, tune it, and have it replace the original item in Reaper. Is this possible?

Go to Preferences/External Editors and set Melodyne as one of them. Then you can use the actions(s): "Item: Open item copies in primary/secondary external editor" "Item: Open items in primary/secondary external editor" Put them in a menu, bind them to the keyboard ... whatever :)

Thanks Tim, works great!

In the past using Melodyn with Reaper was somewhat hit or miss. However, over the years there has been so many version changes to both it is always interesting to try again. Just loaded Melodyne Editor 1.1.5 into Reaper V4.03p2 as a simple VST plugin on a single track (be sure .dll is loaded/identified in the Reaper VST directories) and was able to transfer the vocal track audio immediately into Melodyn from Reaper (no more use of the Melodyn Bridge which was the old way to load). Simply Hit the "Transfer" button in Melodyne and then "Play" in Reaper Grabed about a minute of transfer, then tweaked in Melodyn and Rendered FX to wave back into Reaper.

ha! i've been using the Uno version for a few years. It works so well i've never felt a need to upgrade or have the plugin hit 'E' to open item in Uno, edit, save and the item is replaced. Done!

Melodyne dna experience 

Reaper and melodyne are my two favourit sw. Works stable for years. Running w64, but mainly reaper 32. Have it also on mac with lion, reaper 32 and melodyne. So if anybody have problems it outside reaper and melodyne. Must be something with the OS installations. I am also able to run it realtime in larger projects with a lot of other plugins. One tip can be to increase buffers if the system is under much stress. Br producer

i'm having various problems with melodyne too. sometimes i clik to see melodyne and the gui is fucked up. sometimes i press transfer and when i press play , the tranfer button loses its orange color and nothing transfers.