I found a workaround the problem I was describing.
Apparently Adobe has implemented something called Protection Mode
for a description see this link :
The workaround (I call it a workaround because you have to disable this new Security measure)
is to do the following: Open Adobe Reader X --> Go to Edit --> Preferences in the menu --> General --> un-check "Enable Protected Mode at Startup"
Then you will have to click Continue and restart Adobe Reader for the change to take place.
Now this is only a workaround as it disables all of the new Protected Mode security features so please keep that in mind.
Hopefully adobe will address the Outlook integration piece so that the Printing script will be allowed to open and close Adobe like in un-protected mode...
Hope this helps others who have been searching for a workaround...
This did not work for the latest version.