Am I likely to get caught if I put down I'm Hispanic on the college application and I'm Asian?

you should not have done that. show your pride and that you and asians actually worked hard [without affirmative action because affirmative action wasn't always available and b/c they don't need it] to get into colleges. in the long run, people will respect you more. after all, many asians came to america empty handed and worked their way up for a better living.