Just to share my similar experience - I have upgraded from Parallels 5 to 6 (version 11994) about a week ago (Windows 7 64 bit), and had the same kind of trouble. In the beginning I had frequent freezes, Parallels crashes and different Windows blue screens. After a Windows repair it got a little better (a BSOD about every 1-3 hours without any apparent reason). After reading this thread I changed the number of CPUs from 4 to 1, and left it running overnight - no crash so far, which is a large improvement, but the performance is a lot worse, of course. Downgrading to 5 is not an option, as while that was quite stable, it always crashed on an OpenGL-intensive application I have to use.
Do you know if Parallels is working on the problem, and if they have enough information to fix it? A would really like to work with more CPUs again...