TXRedneck: to confirm: you running OS X Server 10.6 Snow Leopard Server?
The picture that Chambec is showing is System Preferences from OS X client, which is generally not how OS X Server administers this sort of thing with OS X Server 10.6. The approach that Chambec would be using (again, with 10.6 server) involves using Server Admin and not System Preferences, and (again, on 10.6) Server Admin could manage printer queues on OS X Server.
To enable print services within Server Admin on 10.6, select the service, check the box to enable it (if it's not already enabled), and the configure it. This is what I meant by the "Launch the Server Admin tool and (if it's not already present) add the Print service, and configure it, and start the Print service." reply.
AFAIK, OS X Server 10.7 doesn't have printer administration in either Server Admin or Server.app; when last I checked, that seems to have been removed. (I wouldn't get too wed to this service, in other words.)
On OS X client and probably also on OS X Server 10.7, the closest mechanism available here involves managing CUPS directly from its web interface, and you can investigate that using a web browser. Enter the address http://localhost:631/ into the address bar. (Caveat: I haven't tried getting CUPS to share a printer this way, though - all of the printers I deal with are all network-connected, as host-based printer sharing tends toward the unmanagable mess in my experience.)
