Ok, This is minor annoyance, Fedora is running fine (as for as this linux nube can tell ). But when i shutdown Fedora it goes into screen and it get all OKs and then it says its shut down and then it just sits there i have to click on power off to get it to exit back to the Guest Setup Screen. Is this normal behaviour?
Yes - this is normal situation for current version of Parallels (with lack of ACPI support). We will add ACPI support in next major release and this problem will be fixed. PS: As a workaround you can use Suspend/Resume feature.