If you can't access your reader, try this. You may want to wait until later tomorrow to see if it is a server issue tonight (It is actually early Sunday morning as i write this)
From this Kobo help page:
http://kobo.intelliresponse.com/inde...esktop+upgrade - While pressing and holding the Home button, turn your eReader over and locate the small hole on the back.
- Slide one end of the paperclip into the hole.
- Press gently until you feel a click. Don't release the Home button yet.
- You'll see a flashing light next to the power button.
- Remove the paperclip.
- When your eReader says "Restoring..." let go of the Home button.
- When your eReader finishes restoring, connect your it to your computer using your USB cable.
- Open Kobo Desktop, and sync your eReader.
PS: If you have been playing with this for several hours, you may want to let the reader charge for a bit before you go any further with resets.