1.  What is the PortSet Tool?
Here is a snip from the PortSet tool readme
Canon Port Setting Tool is a utility software for confirming and resetting the correspondence between the port of the device installed in Windows and its network address. This utility is useful when the printer driver cannot acquire the device status information correctly, or when NetSpot job Monitor Device Board or Status Monitor does not operate correctly.
When NetSpot Job Monitor is installed in your computer, you can also use this utility for setting the update interval for acquiring information and for checking device types.
 
 
 

2.  When would I need the PortSet Tool?
From our experience, when you use Point and Print or Click and Print, the Workstation printer driver does not have its port associated with the address of the printer.
The result is often the Get Device Status button does not work

According to the documentation, It is also usefull for setting up the NetSpot job monitor.
 
 

3.  How do I install the PortSet Tool?
The PortSet Tool is installed along with the VDC module (NetSpot Suite Services) when using the PCL 4.81 or later Setup driver.
You must choose a printer driver from the printer list in order to be able to continue the install process  *Note 1
Choose Yes when prompted if you want to install NetSpot Suite Services.
You will not be prompted to install the PortSet tool.  It is installed automatically
It is not installed with the INF driver.
The Setup driver cannot be installed through a server.
It must be installed on the workstation which will require a reboot.  Sorry
 

*Note 1: You can install NetSpot Suite Services from the VDC folder but it does not install the PortSet tool
 
 

4.  How do I use the PortSet Tool?
This assumes you have already installed the printer driver through either Click and Print, Point and Print, or local install using Setup or Inf
Ensure use have installed NetSpot Suite Services on the Workstation first.  See step 3 above
Browse to the Program Files/Canon/Portset folder
Run the PortSet.exe utility
Highlight the existing Port you want to Modify.
Hitting Initialize will reset the associations that already exist
Now enter the IPX or IP address of the printer.  You can also use the Discover button.
After entering or browsing the discover list, Hit OK
Hit OK to close the PortSet tool and Reboot as required