I have the same problem as this guy... http://forum.parallels.com/showthread.php?t=95481
Oh and it isn't an upgrade when they remove Parallels 4 and then install Parallels 5. So going back you better have made a snapshot of the image, and have the dmg for installing PD 4 again.![]()
I was able to launch Windows by changing the configuration to a single CPU.
This will stop the BSOD and start the upgrade of Parallels Tools. Once Tools finally upgrades (took over an hour for me) Windows starts fine.
Once Parallels Tools in updated you can then change the config to run more than one CPU. I have my config set to 8 CPUs running 64-bit Snow Leopard.
So far it seems to be much more responsive than Parallels 4.