This is not a small issue. Its a very big issue. Parallels just closes and it is not limited to windows 8 pro. I thought it was windows so i removed the vm then installed windows 7 and installed java and bang. the VM just shuts down even if you open the java setting sin contriol panel. Its gotto do with paralleles not working with java update 7. previously it used to work fine for me in windows 8 as well. this is very very annoying. Someone fix this.
This issue is caused by the last graphics update for 2012 MBPs. We're working on the workaround. In the mean time you can switch to Intel graphics (set Configuration > Optimization > Power to Longer battery life or use gfxCardStatus utility) or disable 3D acceleration for your VM.
Glad to hear a fix is in the works. There's another thread on this very issue: http://forum.parallels.com/showthread.php?t=265282
