Hi all, Just a quick note that when I updated to the latest Parallels build 15104 I found that I no longer had access to Shared Folders from my host (also OSX Lion 10.7.4). The Console was reporting errors with Parallels' FUSE module - invalid parameter PARALLELS_ADDITIONAL_ARGS. To fix this, I modified the relevant plist to remove the offending entry (breakage in the Parallels Tools installer?). Details below: Open terminal (or use your favorite editor): cd /Library/LaunchDaemons sudo cp com.parallels.vm.prl_fsd.plist com.parallels.vm.prl_fsd.plist.orig sudo vi com.parallels.vm.prl_fsd.plist when editing the file remove the (fairly obvious) offending line - remove: <string>PARALLELS_ADDITIONAL_ARGS</string> I hope that helps someone else... Cheers! Update: Should have added - restart the VM after saving the plist (or you could probably unload and reload the plist from launchd if you know how) Update 2: Should have mentioned that the steps above are to be performed in the Guest VM, not the host.