I agree that most likely you have authorized the reader to a different account as your computer. Is your Sony account the same email address and password as your Adobe account for your computer?
I use dropbox to transfer DRM'ed books frequently with no issues so that is probably not the issue.
Is it just this one book? I had a problem that a book was fine on my computer and older Sony models but got a protected error on my T1. Just like you describe! I never did figure out why. It was fixed for me when I installed the new firmware update. Have you done that? One of the things in the update list was it improved DRM compatibility although no one really knows what Sony specifically meant by that.
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