Looking at http://omc.overdrive.com/ it appears you need to work with them. I know that's a terrible answer but when DRM fails, and it's proprietary like this, back to the maker.
I have been using Overdrive Media Console (OMC) to download library audio files for a long time. The OMC works with Win Media Player 12 on my desktop. I recently added a second hard drive to my desktop running Win 7 (64bit) and I lost the ability to download the Overdrive audio files.
I followed the Windows help instruction on how to upgrade the WMP security DRM file to 2.9.01. But nothing happened. Then I followed the instructions to go to Internet Explorer (as administrator) and follow the httP//drmlicense.one.miocrosoft.com/indivsite/en/indivit.asp link and the Security component upgrade button is grayed out. So that doesn't work. . The problem seems t be a Win Media Player issue and I've done a lot of reserach and tried varies fixes but nothing works.
Help will be appreciated.