The Toolbar of the Virtual Machine which is usually visible in the Window view mode is not displayed anymore:
The Virtual Machine Toolbar has been removed from the Parallels Desktop (PD) graphical interface starting from version 7. It cannot be activated or added to your virtual machine's window anymore.
In order to Start, Stop or Suspend the virtual machine in PD 7, please use the Virtual Machine
menu at the top of your Mac's screen or the
button in the bottom left corner of the virtual machine's window in the Status bar.