The Highlight accuracy on the Forma (for Kepub) is actually very good, and a big improvement over all other kobo's, even better than Kindle now! There was, however, one annoying bug introduced with the new firmware you have to be aware of.
When you try to adjust the selection handle the first time, it does't move, at all. ever. Just lift your finger and try moving it a second time, and will respond correctly.
This is not a Forma specific problem.. the same bug gets added to the Clara HD if you upgrade with the new Forma firmware.
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