Goddamn, now that Level Up Labs moved from Fastspring to using Humble Bundle as place to download the drm free copy of the game and soundtrack (in flac and ogg alongside mp3 this time) the flac copy has again different album title; Defender's Quest: Valley of the Forgotten OST. And it does have the same album art as Steam copy.
Probably should tweet the composer and Level Up Labs to help with this
EDIT: Edited the album title (and the product), after this
tweet.
EDIT2: And now the composer himself has also
answered. So, Defender's Quest: Valley of the Forgotten OST it is. Now to enjoy this soundtrack again.