Command+Tab switches to Parallels but doesn't bring Virtual Machine to the front

Hi

I had to reinstall all of my Mac software, and I seem to have misconfigured something in Parallels.

Before the reinstall, I could have a VM running and, using Command+Tab, switch to the virtual machine from the Finder (or any other Mac program). Since the reinstall, however, Command+Tab switches me to Parallels—the menu bar changes from Finder to Parallels—but the VM does not activate. In order to activate the VM—that is, to bring to the front so that I can actually use it—I have to double-click it in my dock.

I'm using OSX 10.7.5 and Windows 8--neither of which differ from what I was using before. I am also using Full-Screen mode.

Does anyone know what setting might be preventing the VM from fully activating when I Command+Tab to it?

Thanks