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Turn off 3D Acceleration in the "Virtual Machine/Configure/Hardware/Video".
"I installed it but there seems to be a graphical glitch. ... Did anyone else noticed this, too?" Yes. To workaround turn off 3D acceleration...
I have been use Fedora 17-64 with Parallels 8. I did a yum update and Parallels said that the Tools needed to updated. When I updated the Tools,...