As GeoffR said, it is still working but is actually set on the NEXT connection to calibre after sending the books. And if you make a change to the series info in calibre, this will be updated on the next connection. That means that step 4 in your list is probably not needed. If you do that step, you need a step 5 to connect the device again.
If this still doesn't work, I would need a debug log to try and see what is happening.
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