I've done some more investigation into this issue today, and my current theory is that the system deadlock is related to snapshotting a VM that lives in a user profile where FileVault is enabled.
Bill: Do you have FileVault enabled?
Also, I've noticed Parallels occasionally leave the "Data Synchronization" label in the corner, even though it's done with it. If you did not experience a system-wide deadlock (hang) then maybe this is what's happening with you.
Last edited: Mar 25, 2009