Installed Parallels 4.0 desktop and then installed Windows 7. OS installed OK, and Parallels is connected to the network but the Windows OS is not recognizing any connections. Is there something that needs to be configured before Windows can recognize the network connections, Ethernet or Airport?
Did you try the general network troubleshooting steps? http://kb.parallels.com/en/5664 Also, try different network modes. If, for example, you are trying the bridged mode, I would suggest to try the default adapter, Parallels should be able to pick up the one you are using on the Mac.