For my Canon IP4000 printer, I can ask the status monitor what the status of the printer is (it says the magenta cartridge is nearly empty). But if the printer is offline, it would say it is offline.
What printer do you have and what does the statusmonitor (or whatever software to manage it came with it) say? If it can't communicate with the printer, it will tell you so in some words (like "offline" maybe).
In that case (but I can't try what happens with you) I'd check the power and the connections, try the printers self test (if it has such), another port on my PC and finally this printer on another PC.
But maybe I'd start with the troubleshooter that's in the right click of the printer in the Start>Devices and Printers of my Windows 7. After all, Windows might be smarter than I am, and find a wrong setting. Since you already excluded all possible hardware issues and KNOW it's a setting, better start with that.
Kees