Running through it quick, the line that it is dieing on is  $Word->{ActivePrinter} = $last_printer; If you remove that line everything runs fine.

Using the debuger, it fails when making a call to Win32::OLE::Tie::STORE if you want to look at the exact line it is failing on, open 'path_to_lib/Win32/OLE/Lite.pm' and look at line 222 (that is where it hangs). I'm guessing that you are correct and this is a bug. You may want to contact the maintainers of the win32::ole module and let them know.