Hi Chris,
The error almost seems like SUM is not accepting your SSL connection from studio as you can see from below error which happens first at 19:08:19
ERROR 2013-05-22 19:08:19 com.sap.lm.hana.web.filter.ErrorFilter
ClientAbortException: javax.net.ssl.SSLException: Connection has been shutdown: javax.net.ssl.SSLException: java.net.SocketException: Connection reset
at org.apache.catalina.connector.OutputBuffer.realWriteBytes(OutputBuffer.java:388)
at org.apache.tomcat.util.buf.ByteChunk.flushBuffer(ByteChunk.java:473)
at org.apache.catalina.connector.OutputBuffer.doFlush(OutputBuffer.java:334)
Then at 19:08:21 it tries to authenticate your <SID>ADM user over a connection that has been closed
ERROR 2013-05-22 19:08:21 com.sap.lm.hana.validation.UpdateDataValidatorImpl
Could not check credentials for <SID>adm user.
com.sap.lm.services.hostcontrol.SAPHostControlException: Could not check credentials provided for user tstadm on host <fullqualifiedhostname>.
at com.sap.lm.services.hostcontrol.SAPHostControlService.wrapHostControlException(SAPHostControlService.java:213)
at com.sap.lm.services.hostcontrol.SAPHostControlService.checkUserCredentials(SAPHostControlService.java:399)
at com.sap.lm.hana.validation.UpdateDataValidatorImpl.checkSidAdmCredentials(UpdateDataValidatorImpl.java:97)
My guess is that your setup is not configured to handle https requests and hence is failing. There are 2 notes that may be of help to you as they refer to a similar(not exact) type of error - 1840870 and 1826767.
Also to check if you are properly configured for https I would suggest to review all 3 sub sections of section 4.3 in the HANA Automated update guide. If that also doesn't work, then you may want to open a support message.
Hope this helps resolve your issue.
Thanks,
Sharan