I have the same problem with a Kobo Glow. I get a different error:
calibre, version 2.61.0
FEHLER: Fehler: Fehler bei der Kommunikation mit dem Gerät

list index out of range

Traceback (most recent call last):
  File "site-packages\calibre\gui2\device.py", line 87, in run
  File "site-packages\calibre\gui2\device.py", line 503, in _books
  File "site-packages\calibre\devices\kobo\driver.py", line 1418, in books
  File "site-packages\calibre\devices\kobo\driver.py", line 2961, in get_debugging_title
  File "site-packages\calibre\devices\kobo\driver.py", line 2804, in get_pref
  File "site-packages\calibre\devices\kobo\driver.py", line 2869, in settings
  File "site-packages\calibre\devices\kobo\driver.py", line 3091, in migrate_old_settings
IndexError: list index out of range

I restarted Calibre in debug mode, this is the log file:

calibre Fehlerdiagnoseprotokoll
calibre 2.61  embedded-python: True is64bit: False
Windows-7-6.1.7601-SP1 Windows ('32bit', 'WindowsPE')
32bit process running on 64bit windows
('Windows', '7', '6.1.7601')
Python 2.7.9
Windows: ('7', '6.1.7601', 'SP1', 'Multiprocessor Free')
Starting up...
Started up in 11.82 seconds with 62 books
Storage number map:
{(7L, 0L): [(1L, 'C'), (2L, 'D'), (3L, 'E')], (7L, 1L): [(1L, 'G')]}
Storage number for USBSTOR\DISK&VEN_KOBO&PROD_EREADER-3.19.576&REV_0110\N437532000183&0: StorageDeviceNumber(type=7L, number=1L, partition_number=0L)
Drive letters for USBDevice(vendor_id=0x2237 product_id=0x4223 bcd=0x110 devid=usb\vid_2237&pid_4223&rev_0110 devinst=3516)
{u'drive_letters': ['G'],
 u'pnp_id_map': {'G': u'\\\\?\\usbstor#disk&ven_kobo&prod_ereader-3.19.576&rev_0110#n437532000183&0#{53f56307-b6bf-11d0-94f2-00a0c91efb8b}'},
 u'readonly_drives': set([]),
 u'sort_map': {'G': (1L, 1L)}}
Job: 1 Geräteinformationen erhalten started
DeviceJob: 1 Geräteinformationen erhalten done, calling callback
DeviceJob: 1 Geräteinformationen erhalten callback returned
Job: 2 Bibliotheksinformationen festlegen started
DeviceJob: 2 Bibliotheksinformationen festlegen done, calling callback
DeviceJob: 2 Bibliotheksinformationen festlegen callback returned
Job: 3 Liste der Bücher auf dem Gerät erhalten started
DEBUG:    0.0 KoboTouch:books - oncard='None'
DEBUG:    0.0 KoboTouch::migrate_old_settings - start
DEBUG:    0.0 KoboTouch::migrate_old_settings - settings need to be migrated
DEBUG:    0.0 KoboTouch::migrate_old_settings - settings.collections_columns= Perry Rhodan
DeviceJob: 3 Liste der Bücher auf dem Gerät erhalten done, calling callback
list index out of range

Traceback (most recent call last):
  File "site-packages\calibre\gui2\device.py", line 87, in run
  File "site-packages\calibre\gui2\device.py", line 503, in _books
  File "site-packages\calibre\devices\kobo\driver.py", line 1418, in books
  File "site-packages\calibre\devices\kobo\driver.py", line 2961, in get_debugging_title
  File "site-packages\calibre\devices\kobo\driver.py", line 2804, in get_pref
  File "site-packages\calibre\devices\kobo\driver.py", line 2869, in settings
  File "site-packages\calibre\devices\kobo\driver.py", line 3091, in migrate_old_settings
IndexError: list index out of range

DeviceJob: 3 Liste der Bücher auf dem Gerät erhalten callback returned
Job: 1 Geräteinformationen erhalten finished
Keine weiteren Informationen verfügbar.
Job: 2 Bibliotheksinformationen festlegen finished
Keine weiteren Informationen verfügbar.
Job: 3 Liste der Bücher auf dem Gerät erhalten finished
list index out of range
	
	Traceback (most recent call last):
	  File "site-packages\calibre\gui2\device.py", line 87, in run
	  File "site-packages\calibre\gui2\device.py", line 503, in _books
	  File "site-packages\calibre\devices\kobo\driver.py", line 1418, in books
	  File "site-packages\calibre\devices\kobo\driver.py", line 2961, in get_debugging_title
	  File "site-packages\calibre\devices\kobo\driver.py", line 2804, in get_pref
	  File "site-packages\calibre\devices\kobo\driver.py", line 2869, in settings
	  File "site-packages\calibre\devices\kobo\driver.py", line 3091, in migrate_old_settings
	IndexError: list index out of range