It's not that the VM would "steal" the mouse and keyboard. It's the the VM would be in control of the bluetooth module (ie the card inside the computer that provides bluetooth connectivity). And if the VM has control of the module, OSX doesn't. So it doesn't matter if the mouse and keyboard are paired to your computer....OSX may no longer think it even has a bluetooth module. Kind of like when you connect a USB printer in a VM....OSX has no idea it's there.
We won't know for sure until someone actually installs the WinXP drivers for the bluetooth module and reports back, or if the Parallels team decides to clear this up.
**UPDATE**
Ok, I went ahead and installed the bluetooth drivers. In order to get bluetooth working you need to select "Apple - Wireless" from the USB device menu. Once you do this, the VM takes over the bluetooth module and you WILL lose your bluetooth mouse and keyboard. I pulled out a USB mouse and keyboard so I could continue working. I tried to pair my bluetooth mouse in the WinXP VM. The pairing took and XP saw my mouse, but the Parallels mouse synchronization tool prevents it from working....you can't see the pointer on screen, but you can see context menus when you right-click.
Conclusion....those of us with BT mice and keyboards CANNOT use bluetooth in a practical way within a VM UNLESS you're willing to give up Parallels tools.
Last edited: Feb 13, 2007