I second the fact there seems to be a problem with ppm or the distribution, because I get the same error when I try to install the module. But my ppm says

PPM - Programmer's Package Manager version 3.1.
...
Install 'Win32-Printer' version 0.7 in ActivePerl 5.8.6.811
[download]

And you say you have ppm 3.2 and ActivePerl 5.8.4. Is there something wrong with the version numbers or did you update your ppm?