The saved printer information is not campatible with this version of Photoshop.
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We students try to print in Photoshop CS5 they receive the error "The saved printer information is not campatible with this version of Photoshop". Photoshop I reset the prefrences, uninstalled and reinstalled, updated videop drivers and changed printers. The only thing that seems to work is changing the default printer everytime a student logs in.
That doesn't happen to other Photoshop users.
So the only thing in common is whatever environment you use for student account management.
Are the students able to save preferences correctly?
Is there a default set of Photoshop preferences installed for the students?
Where are their profiles and preferences stored? (profiles should not be created when they log on, that would lead to all kinds of problems)
Photoshop wouldn't get this error with it's default preferences, only if there were preferences saved from some older version, or with corrupt preferences.
The windows profiles are stored on the local computer. Any of 900 student users could log onto any of 200 computers and get these preferences. The default profile on the local computers does not have a Adobe Photoshop CS5 folder under the AppData folder. I am not sure where the default preferences are stored.
This sounds like your IT people need to get involved.
It really does seem like there are some Photoshop prefs stored somewhere on the system that are not valid (corrupt, out of date, I'm not sure).
I had the same error trying to print to an HP 2600 - cannot remember exactly how I fixed the problem - but something along these lines.
Note: HP does not provide profiles for many of their color laserjets - which was a clue for me.
When I hit print with the Laserjet 2600 selected I got the error message. So I selected another printer and set the output for printer to manage colors. Exited print, went back and opened the image and with printer manages color selected the 2600 and no error message.
This was on CS6 x64 running Win7 x64. You might want to try this as it did work for me