The "default" profile with the "check box" next to it in the Speech Control Panel is determined by the registry entry:
[HKEY_CURRENT_USER\Software\Microsoft\Speech\RecoProfiles]
"DefaultTokenId"="HKEY_CURRENT_USER\\SOFTWARE\\Microsoft\\Speech\\RecoProfiles\\Tokens\\{A32BEAC3-4442-4E13-B485-8A2DD7178794}"
I think this configuration setting is only read when the Windows Speech Recognition GUI / Control Panel starts up. So just modifying this registry value directly may not be useful for changing the profile "at runtime."
For changing the profile at runtime, you might look into using the SetRecoProfile
function. Getting to the point where you can call that function is an involved topic, though...