Update: Athough Lexmark no longer provides phone-based support for this model (except under warranty), they do have e-mail support. I queried them with the symptoms and got this reply:
Quote:
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The encoder strip is most likely the problem. Unplug the power from the printer. Open the front cover and move the cartridge carrier to the center. You should see a white ribbon cable, a thin plastic strip, and a black belt with teeth. The thin plastic strip is the encoder strip. It rides in a sensor on the back of the cartridge carrier that you will not be able to see. Reach in with the first finger of either hand and carefully strum the strip as if playing a guitar. The strip will need to be lowered slightly and brought towards you slightly. Be careful not to break the strip or your printer will need to be replaced (only under warranty). Once you believe the strip is set correctly, plug the power back and try printing the self test.
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In fact, this cured the problem.