I'm using Office 2007 (Beta 2 TR) and when switching between Boot Camp and Parallels Boot Camp Mode I am prompted to reactivate. The specific message specifically mentions that a hardware change was detected. My guess is that there is a similar set of files to those that are managed to retain Windows activation, and that Parallels will also need to manage these in order to retain Office activation. (I'm assuming the new Parallels functionality works by copying and replacing the Windows activation files as appropriate.) There's also a chance that this issue is specific to the Office beta and won't appear in the final release, but I doubt that. Anyone know which files are affected for office?