I already submitted a bug report to the Parallels team about my issues with the Windows key, but I think I've figured out what causes it. For those who haven't experience this yet, sometimes I will hit letters like "F", "R", or "E" while typing and it will start opening the Search dialogue, the Run prompt, and Explorer. All of which are triggered by pressing those letters in conjunction with the Windows key on a keyboard. Since the Command key is mapped to the Windows key, I think I've started to see what's the issue. Running Parallels in fullscreen mode and then hiding the application by using Command+H allows me to quickly go back and forth between Windows and Mac OS for everything I need. However sometimes when I go back to Parallels by Command+Tab, I have the Windows key issue described above. The only way to fix it that I've found is to shutdown the machine and restart it. Has anyone else had this problem? Hopefully the great minds behind this software can figure out a solution. So far, this software has been a lifesaver and amazing. edit: I forgot to mention that it happens in windowed mode as well, not just fullscreen.
I downloaded a freeware windows program KeyTweak and installed to the Windows XP in Parallel. I used the program to disable the left and right Window keys (i.e Apple/Command Keys) since I don't use them. Since then, no more problems because of the ghost key bug in Parallel. You can download the freeware from the following link: http://webpages.charter.net/krumsick/