I can't reproduce the second problem, with the straight/smart quotes. Let's ignore it.
The first problem, with the two periods after a book title, has been with me since at least last year. I can reproduce it with the following:
[A] ConTeXt version.
ConTeXt ver: 2008.08.05 18:47 MKIV fmt: 2008.8.6 int: english/english
My understanding of TeX installations is not sophisticated. Perhaps I goofed. But everything seems to work.
[B] File
\usemodule[bib]
\setuppublications[alternative=apa,refcommand=authoryear]
\setuppublicationlist[samplesize={Kav86},totalnumber=1]
\startpublication[k=Kavka:1986qe,t=book,
a={{Kavka}},y=1986,
n=2,s=Kav86]
\author[]{Gregory}[G.]{}{Kavka}
\pubyear{1986}
\title{Hobbesian Moral and Political Theory}
\city{Princeton}
\pubname{Princeton University Press}
\stoppublication
\starttext
Here is a reference to the Kavka book: \cite[Kavka:1986qe]
\placepublications
\stoptext
The output I get is:
Here is a reference to the Kavka book: Kavka (1986)
Kavka, G. (1986). Hobbesian Moral and Political Theory.. Princeton: Princeton
University Press.
Thanks for your help.
Michael