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LW: I don't think this is about the threat that the other woman poses. I think it's about the threat that your husband poses. He knows this bothers you, you've confronted him before. His response has been subpar so far; he hasn't stored the letters and he left the cd out and the email open so that you would know that he "could do what he wants". Also, he's lied about the relationship.
I think that's why you hesitate dealing with this-- because to push it may reveal what you don't know want to know about him-- that is, your feelings don't count with him so much. To learn that might force you to examine your marriage more closely.