I would suspect the problem isn't the application - it's that unnecessary 32-bit device driver that Sony installs. The old version doesn't work with Lion, unless you reboot into 32-bit mode. I suspect they compiled the new version in 64-bit mode which would let it work in Lion but wouldn't work in Snow Leopard unless you reboot into 64-bit mode.
I say the driver is unnecessary because Calibre works fine with Sony devices even when the Sony kernel driver isn't installed.
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