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Does Reason support audio in??? Last time I used Reason it was output-only, no effects processing possible for external sources.
But yes, you can, theoretically, use your computer to add FX. Adding master FX is no problem, just plug mixer out->computer In, and then Computer Out->Speakers.
If you want to do effect on each channel, it's a little trickier. If you have turntables, you'll need a soundcard with phono in's or phono preamps (since you can't use the phono pre's on the mixer, route the audio to computer and then back to mixer (unless you have a mixer with 2 output busses, which I HIGHLY doubt, if you have a DJ mixer). If you have CD players you need a soundcard with 4 ins and 4 outs (2 stereo in / 2 stereo out).
Connect Player outputs -> computer Ins || add effects || computer Outs -> Mixer Ins, Mixer Outs -> Speakers.
Both methods require a low latency soundcard and a host program capable of providing FX to external sources (such as Cubase or freeware software Kristal). IMO, if you want effects for both (seperate) tracks, and you don't already have a low latency 4in / 4out soundcard, it's much easier and cheaper to buy some hardware multi-effect device. If you want master effects only, it's no problem, just plug the mixer to line inputs on computer, but it can hardly be considered a "convenient" setup 
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