Well, I am back on track-- here's what I did.
I tried the reset to defaults option under the advanced settings and that did not work at all.
I tried reformatting under the advanced settings option and that too had done nothing.
I knew it wasn't the hardware of the slider because it worked to slide it to power it on (the signal would work the same regardless of on or off), so I knew it wasn't an issue there, thankfully.
I finally wound up having to do a hard reset, which blew everything away and required reauthorizing the device and recopying all my book over-- ultimately not a big deal, but it took a little time. So from doing a forced shut-off, I rebooted holding down the volume + and the bookmark keys which gave me the option of totally nuking it all and restarting if I clicked the 5 button... so I did and started fresh. when it came back on after a while, like magic the on/off slider worked again to put it to sleep and wake it up as needed.
so tech_au, it wound up being a similar process just requiring the hard reset instead of the soft reset. so in the event anyone else has the same problem and the soft reset doesn't work, take it a step further.
but yes, this does seem to be an odd trend with the 505... i finally started seeing more people having the same problem as i started looking through older posts.
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