On your #4:
I suspect the confusion and your problem might indeed be related to what you use as the "default template." Normally, folks do not rename the default template. In any case, the currently active default template is always the one specified in Tools, Settings, Files, Template (tab).
This is the one the program looks for when you create any new document with File, New. If it is corrupt, then the new blank document it spawns will be corrupt, too.
Moreover, if you delete the wp15us.wpt file from the folder specified in the Template (tab), the program will spawn a new virgin copy of wp15us.wpt (assuming a US version of WP) when you next load WP -- but only if it was the one specifically named as the default template in Tools, Settings, Files, Template (tab).
I am not sure (1) how you have set things up, (2) where "bob15.wpt" is physically located, (3) how it is accessed, and (4) whether this is the template you have named in Tools, Settings, Files, Template (tab) instead of the usual default template.
Renaming wp15us.wpt when you are in fact specifying and using bob15.wpt would do nothing to help troubleshoot the issue, since the program would still be using the (possibly corrupted) bob15.wpt file.
1. First -- and most importantly -- read this page about "The default template (how to find it, modify it (see also this guide), and fix it) and custom templates" - http://wptoolbox.com/tips/Templates.html. I realize this will take a little time to read, but it should give you enough information about how things should be set up in a standard installation, and how to use various techniques to troubleshoot templates and create custom templates.
2. Then -- for the purpose of testing -- verify that the WP "default templates" are physically located in the folder listed in the Tools, Settings, Files, Template dialog are temporarily moved elsewhere. (I suppose these are the "bob15us.wpt" and "wp15us.wpt" template files. Leave other template files alone, since this is also where the program keeps the QuickWords template.) Then, to make sure we are working with a virgin copy of the true default template, reload the WP program; it should immediately create a fresh copy of the wp15us.wpt template. The idea here is to use the specified Template location to spawn a factory fresh, default, wp15us.wpt template and then use it to test for problems (next step).
3. Test the drawing tools in that new blank document.
Try the above before trying to deal with updating the printer driver (I believe you said the system was working fine until recently). In any case you might need to disconnect the printer and close all programs. I'm no expert here -- you can go to your printer's web site for help -- but I recall instructions on my own computer about installing the driver before connecting the printer.
I am not sure at this point if removing WP12 will help (you would use the Windows Control Panel), since we are not sure about the possible location of the problem. In any case, removing it and then repairing the WPX5 program should restore any Registry settings, common files, etc., for WPX5. But again, let's not get ahead of ourselves. :-)
[Edited 3:22pm, 4-4-12]