Suddenly Ctrl, Shift, Alt and Capslock keys did not work anymore in my Windows XP guest ! I have try to reinstall Parallels Tools as well as reinstalling Parallels (removing Application settings) without any luck! The day before this happened I updated Mac OS X (10.5.8) with latest security update among others Apple updates.
Please, create and send problem report to us (Menu -> "Help" -> "Report a Problem") and post PR # here.