I have found that when you boot up Windows XP in parallels that has a different timezone than what the Mac is set up to be (e.g., GMT-10 in Windows, GMT-8 on Mac OS X), Parallels grabs the wrong time from the Mac.
Example:
On the Mac: Pacific Daylight Time (10AM)
On Windows XP/Parallels: Set for Hawaii (should be 7AM)
When you boot up into Windows, the time should be 7am, but it is set for 10am Hawaii. When you do a time synchronization in Windows with NTP, it fixes the problem, but it doesn't happen immediately.
Parallels should take in consideration the timezone when grabbing the time from the Mac on startup.
Example:
On the Mac: Pacific Daylight Time (10AM)
On Windows XP/Parallels: Set for Hawaii (should be 7AM)
When you boot up into Windows, the time should be 7am, but it is set for 10am Hawaii. When you do a time synchronization in Windows with NTP, it fixes the problem, but it doesn't happen immediately.
Parallels should take in consideration the timezone when grabbing the time from the Mac on startup.