Parallels menu items are all greyed out

I have installed OS X 10.4.10 and the most recent v2.5 build and now I cannot access any menu items under Parallels, nothing under Help, File, Edit, etc. All I can access is Parallels Desktop | Services, | Hide Parallels Desktop, | Hide Others, | Show All. I have tried uninstalling Parallels and re-installing v1970 from the CD then upgrading to any of the last 3 or 4 v2.5 builds. Things were working great until this last OS X upgrade and v2.5 build.

 

There is another thread where menu items being greyed out is mentoned.

Not sure if there was a solution or any comment from Parallels support.

Phil