Will there an Historic equipment exemption for the reflective tape requirements for locomotives and cars? I believe that the date is 2010 for this requirement to be in force.

According to the language of the CFR, the reflective tape requirements do not apply to steam locomotives or passenger equipment.

Here is the specific language from the CFR regarding the reflective tape:
224.3 Applicability.
This part applies to all railroad freight
cars and locomotives that operate over
a public or private highway-rail grade
crossing and are used for revenue or
work train service, except:
(a) Freight rolling stock that operates
only on track inside an installation that
is not part of the general railroad system
of transportation;
(b) Rapid transit operations in an
urban area that are not connected to the
general railroad system of
transportation;
(c) Locomotives and passenger cars
used exclusively in passenger service; or
(d) Freight rolling stock that is subject
to a reflectorization requirement
promulgated by another Federal agency.

Freight rolling stock means:
(1) Any locomotive subject to Part 229
of this chapter used to haul or switch
freight cars (whether in revenue or work
train service); and
(2) Any railroad freight car (whether
used in revenue or work train service).

And from CFR 229...
Sec. 229.1 Scope.
This part prescribes minimum Federal safety standards for all
locomotives except those propelled by steam power.

Not for freight, except what was cited. Check with your local FRA about applying for a waiver for your particular situation.