Probably the result of paging.
How much physical RAM do you have on the machine?
Remember that RAM has to be shared between host (OSX) and guest (Windows), so, just as an example, if you give 2 GB to Windows and have a total of 4 GB installed, OSX is left with only 2 GB which, depending on the apps running on OSX it might make OSX page.
Also, if you have more than one VM running at the same time you have to subtract the RAM assigned to all VMs running from the physical RAM available which wil leave even less RAM for OSX.
For instance:
4 GB total RAM
Windows VM: 2 GB Virtual RAM
Linux VM: 1 GB Virtual RAM
When run simultaneously, it will leave only 1 GB for OS X (and apps running on OSX), in this scenario the computer (all operations) will likely run very slowly due to constant paging.
When you get that slowness again check the Activity Monitor.app for memory usage and see how much free RAM do you have available.
Last edited by a moderator: Feb 7, 2012