Guys!
I just did a procedure here that worked!
I've installed the ADE 4.5.10 on my Windows 10 laptop a long time, and the ADE was always starting a blank screen (stucked); the computer was authorized a long time too. Also, when I tried to access the "Leitura (PT-BR)" menu (would be "Reading" in a EN version), next to the Help menu, the ADE just shut down.
FIrst, I removed the program ADE 4.5.10 from Windows, and installed the ADE 3.0, available on the website, but I got the same error as stephaniel (Jan 10th 19), when trying to open an acsm file; the "check activation" error.
Then, I installed the ADE 4.5.10 back to Windows, removed the authorization (of my laptop) and authorize the computer again (both on ADE 4.5.10). It didn't work.
Last, I removed the authorization for my laptop (on ADE 4.5.10), and restarted the ADE 3.0, that started without the authorization, and authorized my laptop on ADE 3.0. Finally I could open my acsm files withou any problem.
Resume:
1-) Remove the computer authorization on ADE 4.5.10
2-) Install ADE 3.0
3-) Authorize you computer (with your Adobe ID) on ADE 3.0.
4-) Open you e-book (I was using an acsm file).
Hope it works for you too!