I didn't test it out, but from the info in the software, it looked like it MIGHT have the ablilty to clear print jobs older than a set time. It couldn't hurt to check it out.

However, it might be a better idea to try to eliminate the failed print jobs to start with. More info on how this is happenning might be helpful. Is the printer normally left on all the time, or is it turned on when there is a need to print something? If the printer is left on and goes into power save mode, pressing a button on the printer to wake it up, especially before powering up the computer, might be a good idea.