A package has been updated on tug.ctan.org and the change should make their way to your favorite mirror in the next day or two.
Thank you for the update. Jim Hefferon
The following was written by the author of the package.
===================================================== I have submitted an update to the file c-cmr.mf for your approval. The file is on ctan.tug.org, which appears to be alan.smcvt.edu. I would like the file to go to fonts/cm/sauter/base/c-cmr.mf. The file is Public Domain. This edit corrects letter_fit# for large point sizes. The previous formula was causing trouble for ligatures. John Sauter