This ebook system uses Adobe Flash to display. It has dedicated clients, per publisher (in this case Pascal Press) but the base technology and infrastructure is provided by Yudu.
Running the application and tracing the communications shows that the login user/pass is send in XML in cleartext. Hmmm. It then downloads the available books to display thumbnails and descriptions.
Downloading a specific, pre-purchased, file results in a manifest, multiple content files, and a text index file (presumably for full text search results). The content comes down as low-res jpegs, 1 per page, and CWF (Compressed Flash Data) files, also one per page. The files are served off AWS S3.
The ebook files are stored ~/Library/Application\ Support/com.yudu.ReaderAIR/Local\ Store/editions/
Under that directory, you get the following files (and one dir):
content manifest preview.jpg thumbnail.jpg