I've got a couple of library books on my Tolino Shine that I could open and read just fine a few days ago, but when I tried to open them yesterday, I got the above error message. I already double-checked (even though I didn't change anything about the settings): the Adobe ID on my Tolino is the correct one. I already tried to deauthorize and authorize again, but that didn't help.
I only get this error message when I try to read the books on my eBook reader. I can read them without problems in the Adobe Digital Editions interface on my computer.
I also tried borrowing a new book from the library to see what would happen, and it's the same: I can read the book on my computer, but not on my Tolino. Oh, and I used ADE the usual way to transfer the book to the reader.