Please add USE-flag "cdio" to abcde, as done by media-video/mplayer2 for example in order to replace old cdparanoia with the libcdio replacement.
The separate ebuild dev-libs/libcdio-paranoia-0.90 has been introduced recently.
As described here  abcde is already working with libcdio-paranoia:
..using this config:
$ grep para /etc/abcde/abcde.conf |grep -v "^#"
23 Jan 2013; Samuli Suominen <firstname.lastname@example.org> abcde-2.5.4.ebuild:
Only cdparanoia executable is used. Convert the dependency to || () for
USE="cdparanoia" pulls in libcdio-paranoia where supports, and if not, then falls back to cdparanoia
USE="cdio" is for libcdio, not for libcdio-paranoia
Futher, you don't need to configure abcde.conf at all for this, you can simply select libcdio-paranoia as the provider of `cdparanoia` like:
# eselect cdparanoia list
Available cdparanoia binary implementations:
 libcdio-paranoia *
# eselect cdparanoia set 2