I have to read the comics again to check if there's more info...
...but the way at least I understand it currently is, the Sorceress and her chosen Champion's power is bonded to the orb. The power flows through them regardless. But the power can also be drawn and channeled by the sword to its holder, and channeled elsewhere if desired (at Battle Cat for instance).
I see Adam calling the power without the sword, much like Thor realizing his power doesn't come from his magical hammer. Sure the mjolnir is magical, and he or she who can weird the hammer like Captain America can use its powers, but Thor doesn't need the hammer to be powerful. He has powers on his own. And Adam has realized this too. And maybe with practice, he can hone down the Savage He-Man savageness of it.