As acetone is soluble with many reagents it seems to be working with mine. But I am not sure if it is a good idea to use acetone instead of H2O in reagents?
A little more details would be great. About what kind of reagents are you talking? If it is soluble in water, and there is no really good reason to use something else, I would always use it.
I agree with Christian, you have to privide more details to get precise answer. Some reagents are extremely sensitive to oxidation, and you shall to keep it under inert gas. Some can be stabilize by DMSO, But all this dependent form reagnt type. usually, the main probelm is a oxidation..
Apart from compatibility of Acetone with your specimen sample, I will be reluctant to use acetone simply because of its extreme voltality under ambient conditions. molecule which has greater chemical compatibility as well as adequate stability under ambient condtions. choose a solvent u may follow Nachimuthu Subash advise too.