Application Crashes @ Launch - XNA Unexpected Error - How Do I interpret for a fix?

I have a game I am running under Parallels 7 running Windows 7. After months of not having a problem, I've been confronted with this message when I try to launch it:



I'm having trouble interpreting what all that means and how to come up with a fix. Any ideas on where to start?

When I posted this elsewhere, someone asked to look at my DXDiag report. I have it, but it appears to be too long to post here. I've shared the report here though:

https://dl.dropboxusercontent.com/u/2183356/imac_dxdiag.txt

Any direction would be appreciated!

Ty