We experimentally demonstrate the use of photonic crystal Fano resonances for reshaping optical data signals. We show that the combination of an asymmetric Fano resonance and carrier-induced nonlinear effects in a nanocavity can be used to realize a nonlinear power transfer function, which is a key functionality for optical signal regeneration, particularly for suppression of amplitude fluctuations of data signals. The experimental results are explained using simulations based on coupled-mode theory and also compared to the case of using conventional Lorentzian-shaped resonances. Using indium phosphide photonic crystal membrane structures, we demonstrate reshaping of 2 Gbit/s and 10 Gbit/s return-to-zero on-off keying (RZ-OOK) data signals at telecom wavelengths around 1550 nm. Eye diagrams of the reshaped signals show that amplitude noise fluctuations can be significantly suppressed. The reshaped signals are quantitatively analyzed using bit-error ratio (BER) measurements, which show up to 2 dB receiver sensitivity improvement at a BER of 10-9 compared to a degraded input noisy signal. Due to efficient light-matter interaction in the high-quality factor and small mode-volume photonic crystal nanocavity, low energy consumption, down to 104 fJ/bit and 41 fJ/bit for 2 Gbit/s and 10 Gbit/s, respectively, has been achieved. Device perspectives and limitations are discussed.