I assume the printer is in fact enabled as you say it is ready and waiting.
Is this a REMOTE printer?
If so I have seen these daisy chained in such a way that one queue is leading to another a queue which leads to a printer.
If this is your case.
This can cause many problems (other than not passing options) namely that the queue you are monitoring thinks it is up and available when in fact the next queue in the line is disabled (HPUX will disable printer queues based on connectivity loss) or perhaps the scheduler is in fact stopped on the next machine.
Find out the destination and trace it all the way to the physical IP of the printer. Note if the destination is an older Xerox it will be setup as remote queue no matter what.