Unable to switch from Guest OS printer to Mac OS printer

I am unable to switch between Guest OS printer & Mac Os printer (which is the same printer) without errors UNLESS I shut down my Guest OS first.
It is annoying & time consuming and I must be doing something wrong to have to do this ? All my other switching endeavours work seamlessly (much tomy delight & SURPRISE) but the printer functionality is the most important to me & would save me a lot of time & inconvenience.
See Printer set up Utility pic
I get this error when switching from Guest oS to Mac OS when I don't shut down Guest oS .I don't know if I should choose make default as I don't want to muck up the printing which is FINALLY now working in the guest OS. Maybe this is all I have to do -just nervous to do so after all my previous printer connectivity issues :-(

The only way I can get the printer to work in the mac after using it in my Guest OS is to shut the latter down first.
How do you overcome this glitch ?
TIA
http://www.flickr.com/photos/httpwwwflickrcomphotoswattos/?saved=1

 

I would recommend the following: This will allow you to print from either the Mac or the VM without any fuss by making the Mac a print server.

First, go to Windows add/remove programs feature and uninstall any printer drivers that you have installed for your printer.
Go to Parallels/Devices/USB and make sure that USB Autoconnect is turned OFF.
Shut down your VM.
Reboot your Mac.
Then, follow the instructions here.

Come back if you need more help.