As noted in another post (
http://nlog-forum.1685105.n2.nabble.com/Problem-with-NLOG-and-ASP-NET-tp5681942p5681942.html;cid=1289401240871-333) the answer to this problem lies in the inclusion of the following lines in your NLog configuration (NLog.Extended.dll must be in the same directory as NLog.dll for this to work, make sure you have it referenced).
<nlog>
<extensions>
<add assembly="NLog.Extended" />
</extensions> ...
</nlog>
I never saw any of this in the documentation but I have added it to my application and right enough it now works correctly with the ${aspnet-request} layout renderer.