Sharing MS ofice 2007 with multiple users

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How do I share an MS office between multiple users on the MAC? Here is teh scenario:

I have 4 users on my imac. I would like to be able to use a single VM to share the MS office 2007 applications running in the VM to all the users from a single VM. This way each user can be running their own instance of the app without within the same app.

Page 235 of the user guide makes it possible to share the Windows XP VM. But XP is also a multi-user OS, I want users on the MAC to be able to launch MS Word, PPT without also having to launch their own VM. Is this even possible or a future feature.
 
Yes, it is possible you can create one OS and put it in /Users/Shared/Parallels
Please note, only one user can access VM at time, in case of user switching other user will not be able to run VM or access applications
 
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