Hmm, I've just seen this for the first time. I found this thread (and a few others) by searching. However, I tried to fix this by allocating more memory to the VM. Unfortunately, that just caused a crash of the box. :-( I'm running the most recent version of Parallels desktop.
panic(cpu 1 caller 0x001A4A55): Unresolved kernel trap (CPU 1, Type 27=Unknown), registers:
CR0: 0x8001003b, CR2: 0x64b37050, CR3: 0x00f64000, CR4: 0x000006e0
EAX: 0x00000001, EBX: 0x6d626572, ECX: 0x00000000, EDX: 0x00000000
CR2: 0x64b37050, EBP: 0x366ab970, ESI: 0x6d616769, EDI: 0x63216e75
EFL: 0x00000246, EIP: 0x64b35c12, CS: 0x00000008, DS: 0x00000010
Backtrace, Format - Frame : Return Address (4 potential args on stack)
0x366ab6e8 : 0x128d08 (0x3cc0a4 0x366ab70c 0x131de5 0x0)
0x366ab728 : 0x1a4a55 (0x3d24b8 0x1 0x1b 0x3cb56c)
0x366ab838 : 0x19aeb4 (0x366ab850 0x0 0x1676f3c 0x0)
0x366ab970 : 0x64b352d0 (0x4c2cc000 0x5f5be84 0x7f89404 0x366abeb8)
0x366abaa8 : 0x4c78241f (0x366abeb8 0x0 0x0 0x0)
0x366abb18 : 0x4c7826d9 (0x5f5be84 0x366abeb8 0x200000 0x1992a3)
0x366abbd8 : 0x4c782ef4 (0x5f5be84 0x366abeb8 0x18 0x0)
0x366abd38 : 0x4c77e940 (0x5f5be84 0xc0185401 0x366abeb8 0x19e23a)
0x366abd68 : 0x1f1668 (0xb000000 0xc0185401 0x366abeb8 0x81)
0x366abda8 : 0x1e84a2 (0x366abdd0 0x297 0x366abe08 0x5dcc3e8)
0x366abe08 : 0x1e02a3 (0x74776b4 0xc0185401 0x366abeb8 0x81)
0x366abe58 : 0x332ac8 (0x5da6dc0 0xc0185401 0x366abeb8 0x5dcc3e8)
0x366abe88 : 0x350e24 (0x5da6dc0 0xc0185401 0x366abeb8 0x5dcc3e8)
0x366abf58 : 0x37ad83 (0x5dcc3e8 0x61e75f8 0x61e763c 0x0)
0x366abfc8 : 0x19b28e (0x6263f40 0x0 0x10 0x6263f40) No mapping exists for frame pointer
Backtrace terminated-invalid frame pointer 0xbfffdf78
Kernel loadable modules in backtrace (with dependencies):
com.parallels.kext.vmmain(3.0)@0x4c77d000
Kernel version:
Darwin Kernel Version 8.10.1: Wed May 23 16:33:00 PDT 2007; root:xnu-792.22.5~1/RELEASE_I386
Model: MacBookPro2,1, BootROM MBP21.00A5.B01, 2 processors, Intel Core 2 Duo, 2.33 GHz, 3 GB
Graphics: ATI Radeon X1600, ATY,RadeonX1600, PCIe, 256 MB
Memory Module: BANK 0/DIMM0, 2 GB, DDR2 SDRAM, 667 MHz
Memory Module: BANK 1/DIMM1, 1 GB, DDR2 SDRAM, 667 MHz
AirPort: spairport_wireless_card_type_airport_extreme (0x168C, 0x87), 1.1.9.3
Bluetooth: Version 1.9.0f8, 2 service, 1 devices, 1 incoming serial ports
Network Service: Built-in Ethernet, Ethernet, en0
Network Service: Parallels Host-Guest, Ethernet, en2
Serial ATA Device: Hitachi HTS541616J9SA00, 149.05 GB
Parallel ATA Device: MATSHITADVD-R UJ-85J
USB Device: Built-in iSight, Micron, Up to 480 Mb/sec, 500 mA
USB Device: Bluetooth USB Host Controller, Apple, Inc., Up to 12 Mb/sec, 500 mA
USB Device: Hub in Apple Pro Keyboard, Mitsumi Electric, Up to 12 Mb/sec, 500 mA
USB Device: USB Receiver, Logitech, Up to 1.5 Mb/sec, 100 mA
USB Device: Apple Pro Keyboard, Mitsumi Electric, Up to 12 Mb/sec, 250 mA
USB Device: IR Receiver, Apple Computer, Inc., Up to 12 Mb/sec, 500 mA
USB Device: Apple Internal Keyboard / Trackpad, Apple Computer, Up to 12 Mb/sec, 500 mA