The woman I talked to on the phone said that exchange/return policies are decided by the store, not corporate. However, she suggested that I tried calling other Borders stores in the area. She even offered to help me find them, but seeing as how I was already on the website and knew a couple of other locations, I declined.
I called a Borders that's a couple of towns over from me and was overwhelmingly pleased with the service they offered; not only did they say that the exchange is possible, but I also have a copy waiting for me at the check-out desk.
Thank you everyone for your advice! =)
Just as an FYI, the Borders that wouldn't exchange the book was the one at the Connecticut Post Mall in Milford, CT. The store that I'm exchanging at is in Fairfield, CT (sup FC?).