Hard talk refers to dealing with unpleasant subjects in a truthful way, no matter how much people, or more likely a group of people, may disagree.
For example, if my city had a major corruption scandal that the politicians did not want to talk about, having a TV or radio show in which they were specifically asked questions about the scandal and its details would be 'hard talk'.
Second - 'fast asleep', meaning in a deep sleep, is correct. 'Fast sleeping' is awkward and even if it was used, would mean falling asleep quickly. You would almost never hear it.