Latest build (12094) + Mac OS Lion. When opening a vm with the virtual machines list (window) parallels crashes. When opening a vm with the shortcut created on the desktop (directly to vm without virtual machines list) there is no crash. Didn't have this with build 12092 + Mac OS Lion.
On this page there are some issues mentioned with Mac OS Lion. On the second row there says: http://kb.parallels.com/en/111614 When you start Parallels Desktop, some of your virtual machines may start automatically This problem also seems fixed with disabling animations in parallels preferences.
Parallels 7 Lion Yes, you have to disable animations. You can see a screenshot here: http://vector-art.de/parallels-7-abtsuerze-unter-mac-os-lion/