It means that your version of Calibre was released before firmware 4.35, so just in case Kobo made changes to the database format since 4.34, Calibre has entered read-only mode to avoid accidentally corrupting the database. Since Kobo probably did not make any major changes in 4.35, you can probably ignore the error. If you're feeling paranoid, you can update Calibre once a new version that supports 4.35 is released.
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