There's a screenshot attached. It's hung for more than a half hour at this point. 8 Threads, 2.7% CPU in activity monitor. 11.98 Megabytes usage for the installer program. I removed the original version of the Parallels program to see if the newer version ironed out any bugs. To re-install I changed the names of all Parallels files, including the Documents, Library and plist files pre-existing. Maybe it's still picking up the original configuration from somewhere.
When that happened for me, I check to see if all postflight scripts have finished running. That was apparently the case, so I simply force-quit the installer and used PW from then on without problems.