Once in a blue Office will crash, until I go back to windowed mode, after that it operates correctly again. This is with the latest release of Parallels, running updated Vista, Office 2007, and in Coherence mode on a Santa Rosa MBPro.
I don't run Vista, but by any chance have you detected a pattern? Do you have anything in your logs when it crashes? I had some periodic crashes on some machines I manage, and they dissappeared after I: 1. Changed the Mac addresses on the VMs with the same address on the same network (I pushed an image across multiple computers). 2. Optimized things for Guest OS.