No reason it shouldn't -- it's designed to work on this socket. I have a DS3R and use a Xigmatek that is similarly large and there is plenty of clearance between the heatsink and the memory slots. Usually if people have problems, it isn't so much with the motherboard, but with their cases. I have heard of a few people who have problems putting the side on their cases. I know my Xigmatek has less than an inch between the top of the cooler and the inside of the case.
If you haven't seen it, there is a review of your heatsink. Nice that it comes with a bracket instead of using those push-pins. I don't really like the push-pins, so I had to buy a bracket separate from the cooler. It was only about $10 with shipping, but it would have been nice to get it with the cooler... Here's the link:
http://www.anandtech.com/casec...us/showdoc.aspx?i=3141
BTW, I just saw in the Hot Deals forum that the Xigmatek HDT-S1283 is on sale for a great price. This comes with the 120mm fan. As I said before, this is the cooler I run on the same MB you have. Don't know if you are set on the CoolerMaster, but if you aren't, here's the link to a very highly-rated cooler for a *great* price:
http://forums.anandtech.com/me...=2207752&enterthread=y