Looking at class features.
I see the changes you made to casting. Not sure free Heighten Spell is necessary. Save DCs being low wasn't a problem with the sorcerer, iirc.
Relearning spells after a rest fixes the versatility problem, but it feels inelegant. Can't come up with a much better idea, though. Maybe I'm just being overly critical.
Charismatic Arcana is good. Charismatic Will is good.
Draconic Sorcery I'm not so hot on. I'm not a fan of every sorcerer having powers because their ancester boinked a dragon. Other heritage options would be good, or even being a walking nexus of arcane power. I'm reminded of the Pathfinder bloodlines.
Versatile spellcaster is good.
Common Arcana:
To be honest, I'm not sure of the need for adaptive metamagic; it's powerful, but it's not fixing a flaw with the sorcerer. (Aside from the systematic problem that choosing feats entails.) That being said, it would be interesting for a Sorcerer to be to metamagic what a Wizard is to spells. (In which case, another strike against allowing a sorcerer to repick his spells with a night's rest.)
Armored metamagic is useful for a gish build.
Bonus metamagic feat? *Smacks Endarire on the head.* Get back to work and come up with something creative.
Day of Sorcery's wording needs work; it is far too clunky. My suggestion: When you cast a Sorcerer spell with a duration of at least 10 minutes per caster level, you may spend an extra spell slot of that spell level to increase the duration from 10 minutes per caster level to 1 hour per caster level for one additional spell slot, or from 1 hour per caster level to one day for one additional spell slot. You may increase the duration of a spell twice, such as from 10 minutes per caster level to one day, by spending two spell slots.
I have perused the ability called Extrapersonal Metamagic, and I must say that you need to pare down the dense verbiage on this ability, for its superfluous words and descriptors make the meaning of the text difficult to discern for the reader. Verily, gleaning the mechanics of the ability was not at all aided by the phraseology!
Metamagic Improvisation: This ability makes swapping out metamagic feats and gaining a boatload of them through bonus feats unnecessary. I'd rather have this than just gaining bonus metamagic feats, though. It's more interesting. (Maybe tack on a scaling spellcraft check to accomplish? What can I say, I'm a gambling man.)
Recurrant Conversation: I like this idea better than swapping out spells known after a night's rest. How does the emulation deal with spells that are much lower on some lists than others?
Slow Sorcery: Maybe call it Channeled Sorcery? Sounds better.
Sorcerous Conversion: Seems kinda similar to Recurrant Sorcery. I'd cut one or the other.
High Arcana:
Charismatic Defense: Not terribly useful at the level it comes into play. Especially because sorcerers will all be using Ruin Delver's Fortune.
Triple Swap: You know my feelings on this.
Vastly Expanded Sorcery: A little unsure about this, due to the aforementioned ability to pull spells from other lists.
Finally, the most odious, objectionable, and damming mistake you've made: you have given the sorcerer a familiar, which is a clear powergaming move that sacrifices flavor for power. Shame on you.
