I think many people offered you an easy solution that you are ignoring. KoboBooks does sell books in ePub format, ePub works perfectly on the Kobo and does show all the graphics. You can easily visit your Library on Kobo and download the book you purchased earlier, this time in ePub format to your Adobe Digital Reader and then transfer it to the Kobo. This is all perfectly legal and should not take you more than 5-minutes (in my experience this is probably faster than using the Kobo Desktop App to load books onto the Kobo).
As for poorly formatted ebooks, this has happened to me with purchases from Amazon, Sony, SmashWords, and Kobo - both mobi and epub versions. Luckily, once DRM is removed, calibre can fix all these "problems" (or just personal preferences in my case) very easily. I find taking problems to the developer of calibre to be far more effective than trying to get Amazon, or Kobo (or Sony, ... etc.) to change their ways.
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