Have you taken a look at the printer properties and which port is is using?
Otherwise, you might want to remove the printer by uninstalling it.
Then download and install the latest drivers from hp and then select network as the method
Most times windows 7 will search out and install network printers if you select the network as the location.
PS: do you know the IP for the printer, you might want to try adding a tcp/ip port to the location for the printer and then see what happens.