My Windows 7 VM also hangs up on the "Shutting Down" and "Configuring" screens every time I either restart or shut down Windows I had to use the Parallels VM "Stop" action to shut Windows down. This always results in a startup boot-up screen the next time the Windows VM is started. I have kept us with all of the important and most all of the optional Windows 7 updates.
I applied the changes you suggested above and the VM did a restart when requested.
When I tried to do a "Shut Down" using the Windows Start button, the VM still hangs up for over 10 minutes in the "Shutting Down" page, and eventually shuts down. Is this a separate issue from a restart?
How do I find out which of the "Selective Startup" and/or "Services" is causing this issue? I am on Parallels 10 and do not recall having this problem on earlier versions, but I have also added programs since V10. I do not recall if the problem happened coincident with V10 or after.
What info and/or screenshots do you need to point me in the right direction toward a solution?