We have done what is needed to enable this feature in the Silverlight 5 version of the control (2012.1.215.1050). There are no settings you can use, as this is the default behavior, and we have not observed any issues so far.
You should note that vector printing is supported only in Silverlight 5 and "Will fall back to bitmap printing in Silverlight 5 if a printer limitation is encountered." More information about printing in Silverlight can be found here
the Telerik team
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