Translation:I am reading about you all morning.
I am having a hard time understanding why this is seen as grammatically incorrect in English. The context in which this sentence would be used would be exceedingly rare (we don't often read about people and tell them about it simultaneously) but it doesn't "sound wrong" either.
It is common for English speakers to use expressions of time with the present continuous in order to indicate future action (I am going to bed soon). While it would probably be more common to use present perfect continuous for this sentence (I have been reading about you all morning), I don't think there is a grammatical or understandability issue with the English translation of the sentence.
My guess is that because German does not have a continuous construction, that the most direct understandable translation into English is one using present continuous, rather than the more complex present perfect continuous.
Thanks! I find this page about time expression very useful http://www.dartmouth.edu/~german/Grammatik/Zeit/Time.html