Getting this message since the upgrade: "Unable to switch to Coherence. The virtual machine display configuration could not be applied. Please try again or contact the Parallels support team for assistance." I'm running a Windows 7 Ultimate 64bit VM. The problem appears only if multiple monitors are connected (not mirrored). This was however working before the OSX update.
I can further narrow down the problem: the error message only comes up when connecting 2 monitors. Connecting one monitor is fine, as soon as I connect the second monitor the VM jumps out of coherence mode with the said error message. Again, this was working fine until recently.