In my particular case I'm using Windows 7 64bit (host) and Ubuntu 10.10 64bit (guest).
There is no way to tell Windows to ignore the USB device if you want your virtual machine to see it. The only reason the virtual machine sees it is because the host OS sees it in the first place. The host OS is lying directly on the hardware so it has to pass through that layer to find your software which is being run on top of the host OS.
What you really want is to set up a USB filter as described in the answer you linked to. This will allow the host to pass through the device to your vm when plugged in, which will do what you want.