I've read a lot of threads suggesting ways to fix this (not specific to Parallels). Mostly involving acpi and apm. But I've yet to see a solution that works for me. Basically, when I shut down my Feisty Fawn virtual machine, the VM will not turn off. The only thing I can do, really, is stare at the hard drive activity icon and wait for it to stop for a while before manually shutting down, since I don't see any text during shutdown - just a blank black virtual screen. It was like this with Edgy Eft as well. Haven't tried Dapper Drake. Has anyone managed to get this to work properly?
Oh, I turn power management off on my virtual machines, figuring that my Mac's power management would bring the system to a low power state (along with the virtual machines) anyway, at the appropriate time.