As someone who has been studying the geomagnetic field for some years, I can say that yes, unusually massive solar coronal mass ejections can disrupt power grids. the book's author raises some interesting points, but, in a very tabloid way.
It happened with the blackout in canada/north US back in '89. That was a massive massive event. Do you even remember it? Probably not.
Such things are really rare. CMEs are not particularly rare, they happen pretty frequently. There have been about a dozen of them in the last couple of weeks (the videos of the July 3rd events were particularly pretty). Most are not aimed at Earth. And even when they are, most of the time the added solar input creates aurora effects and geomagnetic storms here on earth that mostly only satellite operators and observers of the northern lights care about.
In the unusual case when an unusually huge CME just happens to be aimed at earth, at a time when the solar magnetic field just happens to have fluctuated and is polarized "southward" which counters our own "northward" geomagnetic field, (i'm really simplifying this) there can be some disruption, mostly to satellites, and some earthbound communications. It's really unusual that one might cause a power blackout somewhere (the magnetic disruption induces current in wires, an EMP effect).
Is this a problem? For power grid operators and people who are really concerned about being blacked out for several days, yes.
Is a disruptive geomagnetic effect likely to happen sometime in your lifespan? Yes, but you might not even notice it.
Should power grid operators take some steps to avoid problems from these things? Yes they probably should. (Which is really all the article is about, if you ignore the tabloid alarmism)
Is the phrase "Bring society to it's knees" ridiculous hyperbole? YES, but only because of how unlikely it would be that something that damaging would happen within our lives. I can think of a dozen things that "could bring society to it's knees". But, are they really that likely to happen? Probably not anytime soon, so I don't think the average person needs to spend that much time worrying about them.