Once the Sony software updates, it hijacks the association for .ACSM files (and .EPUB files, usually, but only the first one is needed). Which means that although it calls on ADE to authorize the book, the book opens in the Sony software. You can put that back the way it was by finding both a .acsm and .epub file, right click on properties and change the association on the front tab to Adobe Digital Editions.
As for the reader, you might try Calibre - it can't read DRM'd epub's, but it can set metadata and load them onto the read for you.
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