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Instead of shutting down & restarting your guest OS, you might want to try Control Panel => Add Hardware and scan for new plug & play devices. I...
I don't have any kind of power setting on my HD. It's just a standard 2.5" laptop HD plugged into a serial ATA to USB bridge. Parallels 3.0...
That drive is NTFS formatted, so sharing to VM from Mac OS X won't allow writing to the drive.
I have an external HDD connected via USB (and occasionally use it in Windows). I noticed the following behavior in Parallels 4.0: (1) Run VM....