I think the step you are missing is to rename the cores\teensy directory that Teensyduino creates.
I just did the following on my Mac and it worked, the equivalent on Windows should get you going:
* Download Arduino 1.05 From
* Download Teensyduino from
* Run the Teensyduino installer, don't install the extra libraries if it prompts
* Find the hardware\teensy directory inside your Arduino install (on a Mac this is usually /Applications/Arduino.app/Contents/Resources/Java/hardware/teensy, on Windows it will likely be something like c:\Arduino\hardware\teensy)
* Download http://blog.lincomatic.com/wp-content/u ... 286txt.zip
and copy the programmers.txt and boards.txt files to the above directory (or take them from the older pre-configured Arduino install).
* Inside the above directory find the cores\teensy directory and rename it to cores\at90usb1286
* Launch Arduino, select either of the printrboard options from the Boards menu, click Verify