RMDSK is the code behind ADE. Kobo's implementation of RMDSK does allow installing fonts, it has line height and margin adjustments. It also has many more fonts sizes than most Readers.
I cannot speak for what's up with ADE 4.5 as I refuse to install it due to the new DRM. I'm on 2.0.1 and I'm also using whatever Kobo supplies. I've not seen an issue with Kobo with incorrect rendering when reading ePub. So please don't compare ADE 4.5 to whatever version RMDSk that Kobo is using.
If you attach a text ePub that shows that issue with ADE 4.5, I can try it on my H2O and see what happens.
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