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#11
That firmware update solved the issue for me. I was able to print from MS WORD using 120 pt font. Calibri and Arial. According to the web interface for that printer, it is an HP LaserJet 400 M401dn.
I also tested a second HP printer (HP LaserJet 400 M401n) that has even less memory built in:
Firmware Datecode: 20140521
Total Memory: 128 MBytes
Available Memory: 62.44 MBytes
It failed to print the 120 pt font too.
Once the firmware was updated...
Firmware Datecode: 20150410
...it printed the 120 pt font just fine.