The answer to this one is.... maybe.
The answer got a bit complex so forgive me for ranting....
Given that XP in parallels has ways of communicating with the outside OS through parallels tools, an attacker could, potentially, create an exploit that specifically looks for this and exploits it.
There are previous examples of such exploits (mostly proof of concept stuff) for VMware.
If parallels has any security vulnerabilities in either the file-sharing protocol or in the parallels tools application it is possible that an exploit could be found that would take over the Parallels application. Since Parallels uses kernel extensions it is possible that an exploit could be found that would "root" your Mac. (Well "root" that kernel extension, but that gets a bit complex considering that Mac uses a micro-kernel)
Now, all that being said. It is **extremely** unlikely that any of this would happen. Most people are not running XP on parallels. Most of the exploits that are floating around are incredibly dumb, they rely on holes that were fixed 6 or more months ago (or are simply metasploit scripts). They get people who are too lazy to update, or who are unaware of the issues. A virus writer would have to specifically target XP under parallels on Mac. I would also guess that a good portion of people that run XP in this way are not even venerable to this type of an attack. My XP under parallels does not have a network card.... as the programs I run on it don't need one.
The bottom line: Everything connected to a network, or that installs new software is possibly venerable. Nothing is perfectly secure.
A secure computer is one that does not install new software, and is not connected to any network.
Also: Don't be too paranoid. Most "hackers" are idiots.
Do note though: I don't think Mac OS meets the security requirements for some secure computing evironments. I would not run software that uses HIPAA information under Parallels.
Last edited: Aug 11, 2006