Actually Ernst Dinkla and Geraldo Garcia, possibly John Dean are the experts with this.
Basically a target that the HP can read is printed by another printer on the substrate to be profiled and used by that other printer. That printed target from the other printer is fed into the Z Series printer and read by the ESP. It makes a profile for the paper that can then be used by the other printer.
It's just that it puts the other printer's ICC profile in the Z series list.
There are a few tricks such as choosing the specific target to be printed, etc., etc., however it works great. I wish either Ernst or Carlos would do a tutorial.
You can experiment with. Your printer using the color center. Look at the alternatives for printing a target then waiting to reload the paper and creating a profile at a later time.
Hopefully others who do this will elaborate.
EDIT:
Here are instructions from HP about making profiles - some great info included if you read it:
Create your own profile
You can create a color profile easily by using the HP Color Center: select Paper Preset Management > Profile Paper. The printer helps you by prompting for information about the paper, then creates and installs the new profile automatically.
The process takes about 15–20 minutes and consists of the following steps.
A profiling chart is printed, which contains patches of each ink used in your printer. Unlike a calibration chart, most of the patches contain combinations of more than one ink.
The printer chooses automatically between two profile charts:
An A3 or B format for cut sheets
2: Profiling chart (A3)
A roll-paper format that minimizes paper use by printing across the full width of the roll
3: Profiling chart (roll)
The chart is allowed to dry for a period of time that depends on the paper type, so that the colors have time to stabilize.
If you would like to use a longer drying time, you can ask the HP Color Center to create the chart without going on to create a profile (Windows: Print target only; Mac OS: Print ICC profiling chart). Then, later, when the chart is completely dry, you can restart the HP Color Center and ask it to create a profile using the chart you have already created (Windows: Create ICC profile from a target that has already been printed; Mac OS: Scan ICC profiling chart and create ICC profile). In this case the spectrophotometer takes a while to warm up before it is ready to scan.
The chart is scanned and measured using the HP Embedded Spectrophotometer.
Chart measurement may not be successful if you load the chart as a single sheet without skew check.
From the measurements made by the spectrophotometer, the printer calculates the ICC profile for your printer, inks and paper type.
The new ICC profile is stored in the correct system folder on your computer, where your application programs can find it.
The profile is also stored in the printer, so that other computers connected to the same printer can copy it. The HP Printer Utility will notify you if your printer has profiles that are not yet stored on your computer.
Some applications may need to be closed and restarted in order to use a profile that has just been created.
You can profile a photo paper with the gloss enhancer on or off. The two profiles will be different, so you are recommended to save them under different names.
Color measurement
You can also create a color profile by using a third-party profiling program and the Color Measurement facility. To begin Color Measurement:
Using the HP Printer Utility for Windows, select Color Center > Paper Preset Management > Color Measurement.
Using the HP Printer Utility for Mac OS, select HP Color Center > Paper Preset Management. Select the paper type, then press the button and select Color Measurement from the popup menu.
Continue with the following steps.
Choose the workflow that you want to use from the following options:
Print and measure a color chart performs printing and measurement in a single process. You can choose whether to use gloss enhancer and how much drying time to allow.
Print a color chart for later measurement assumes that you will measure the printed chart at some later time to complete the process. You can choose whether to use gloss enhancer.
Measure a previously printed color chart completes the process if you have a color chart ready for measurement. Load the chart in the correct direction as indicated by the arrows, loading multiple pages in the correct order, and do not cut the paper.
Export a color chart as a TIFF for printing externally allows you to use a different program (a RIP, for example) to print the color chart. Do not modify the TIFF file in any way before printing it. The printed chart should be exactly the correct size; the simplest way to achieve this is to print it on a paper size larger than the chart and then cut the paper after printing as indicated by the crop marks.
If printing a chart, select one of the available charts.
If measuring a chart, select the characteristics of the measurements file: what sort of information it should contain (CGATS and MonacoPROFILER formats are supported), and where the file should be saved.
Chart measurement may not be successful if you load the chart as a single sheet without skew check.
Open the measurements file with your profiling program.
The printer's spectrophotometer measures from 400 to 700 nm in steps of 20 nm. All other measurement types are interpolated.
