Parallels won't load

Parallels stopped working on Mac OSx 10.6. I have backed up all data on the Mac including the virtual directory containing our Windows 7 environment.

How can you get the data out of Windows 7 if Parallels won't run? I have uninstalled Parallels and reinstalled and all it does it show the rainbow colored circle. No error, nothing. Previously it would go to a black screen and show the same rainbow colored circle now it doesn't even launch at all. I tried starting it in Mac's "safe mode" but It says a service isn't started and when I run the command line syntax to run it, says it doesn't exist.

This is Parallels 5. Can someone please tell me how I can get this virtual Windows 7 back up and running. My boss is willing to buy another Mac and install Parallels on it. If I copy the virtual folder to a new Parallels install will it work?