Ok so what fixed the issue for me was as follows.
First launched regedit.exe from the run dialog & navigated to HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows NT\CurrentVersion\Drivers32
before making changes I went to "file" > "Export" and save a copy of my registry to my desktop titled "Midi_FIX.reg"
Next in the registry location above I deleted the values midi4 - midi9
going to the folder location C:\Program Files (x86)\KORG\KORG USB-MIDI Driver and run "UnInstDrv64.exe"
here you should see a list of ports. select the KP3 entry...
(In my case it was assigning itsself to ports 10 & 11) now connect the usb cable for the KP3 and power it on and wait for drivers to reinstall.
Last Launched the KP3 Editor and clicked "All/Receive" button and no longer had an issue KP3 was recognized.
Please keep in mind this modifys the system registry and can delete your other deviices... I experienced an issue with Reason no longer seeing my control surface corretly and had to make some adjustments.
first I clicked my exported registry file mentioned above to restore my registry... rebooted computer...
When you run the UnInstDrv64.exe from the KORG folder in program files you will get to see a list of installed devices... listed from midi1- midi10 (or greater)
In order to get around deleting all my devices I looked for an generic entry for "USB audio device" which presented itself on midi3 & midi4
after identifying those I then went back into regedit and deleted the string value "midi3" then made sure I had deleted the KP3 from the UnInstDrv64. exe utility.
next I went back to regedit and right clicked on the folder on the left "Drivers32" then selected "New" then "String Value" and named it "midi3" to replace the value previously deleted.
I then powered up the KP3 let the computer detect it and launched the editor. KP3 connected with no issues.
Just to verify all of this I rebooted again after the computer booted back up powered up the KP3 launched the editor and was able to transmit and receive data.
***NOTE*** where as I reference "midi3" could be any of the midi strings in registry... I Highly recommend you use the driver uninstaller to determine which string is attached to a generic device (M-Audio Uno can reserve these spots for example) The important thing to note is that the KP3 MUSTt be attached to the midi1 to midi9 string... even in my case with it attached to midi10 it failed to get seen by the editor.
Thank you to all that helped add to this post and I hope this solution helps others resolve this problem in the future. I also did a factory reset to my KP3 and without changing any settings on the device itself was able to connect.
for info on factory reset
1. Press 1 and 2 and Sampling while powering on the KP3.
2. PrLD will appear in the LED.
3. C will be on, D will be flashing.
4. Press D.
5. urt will flash in the LED.
6. P.off will then appear in the LED.
7. Power off and on the KP3, enjoy factory reset goodness.
Cheers and thanks a million to all those of you whom helped me get this fixed
