SymptomsThe mouse pointer is flickering when switching between Windows applications in Coherence mode. This may lead to difficulty switching between applications.
CauseThis issue has been reported to Parallels Product Maintenance team and being investigated.
SolutionDownload and install the latest OS X 10.8.1 update: click on Apple logo > Software update... and install the update
If the issue still persistsThere is a temporary workaround which helps to isolate mouse flickering.
Please go to Virtual Machine menu ► Configure ► Options ► Coherence ► and disable Crystal Mode as shown below: