I have the Sony 505 (given to me for Christmas 2008) and I have not had this problem. Sometimes it gets a bit hot to the touch in 90F - 100F heat, but it doesn't fade.
I thought I understood that the fading was due to a certain batch of Vizplex eink screens made by, I think, LG. You can search for the fading screens and check posts made a while ago when this first started being noticed. It seems that most companies replaced your device if it was brought to their attention.
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