This happened to me for the first time in 2.5 years just last week.
I have an IT background, and everything was working perfectly fine (I could ping the printer and it would respond), however Versaworks would just not see the printer.
I rebooted both printer and computer, same result.
Ended up having to completely power both down for a few minutes, restart then they resumed talking again.
I have no explanation for why a hard reset would have changed anything compared to a reboot, since this I have a degree in Networking, but as the old saying goes "have you turned it off and back on again" was the solution.