I'm finding messages like these all over the place. I experienced the same problem. I called Kobo this morning and was told to download the book to my Kobo desktop and then move it to my Kobo reader. Well... what if I don't have a Kobo reader? Anyway, I tried to explain that it's more than likely they aren't connecting to the Adobe licensing server. Next I was told it was a problem with ADE, to re-install. I'm not stupid ADE works every where else. So hopefully someone at Kobo will figure it out. I'd hate to have to buy the book again.
Customer support sent me an email with a link to Adobe digital help. Told me I could re-open the problem if it's not solved in 10 days. Not happy