I don't see anything unreasonable or mollycoddling about revising the spelling for the US market -- it is equivalent to translating it into Spanish/French/German/whatever.
What does irritate me is the clear dumbing down in the use of the term "Sorcerer's Stone", a non-existent figment of some stupid editor's imagination. The "Philosopher's Stone" is the ancient legend referred to.
Interestingly, a popular YA series, "The Secrets of the Immortal Nicholas Flamel", has had no problems whatsoever with referring to it as what it actually is, and hasn't suffered as a result.
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