Right Click on item under File Explorer causes High CPU and Egg timer

Upgraded from Parallels 4 to 5, installed the new tools and then ran my XP Professional image but then found that if I right clicked on any file or folder under File Manager the fans started spinning very fast and the Windows Egg timer just remained.

Ran multiple Registery cleaners to try and sort it out but nothing worked but then found a link to a website that described the issue as being with a "badly" written context menu handler. Loaded an application that showed all these context menu handlers and it displayed pages and pages of them. Thinking about what had changed I saw both "Parallels Shared Applications" and "Parallels Shell Extensions" so disabled them both and the system started to behave as normal.

Did some further tests and found that I just needed to disable the "Parallels Shell Extensions" for the system to behave.

Running Build 5.0.9220, not sure how to get the tools version.

Guess this is over to Parallels now to sort out....