Note: This article is for Parallels Desktop 7 only. if you use Parallels Desktop 5 for Mac or Parallels Desktop 6 for Mac please refer to this article: http://kb.parallels.com/114410
You upgraded your Mac to OS X Mountain Lion and no longer can start Parallels Desktop 7 because of the error message:
You can't use this version of the application "Parallels Desktop.app" with this version of OS X.
Parallels Desktop 7 for Mac is not updated to the latest build 7.0.15104
ResolutionDownload and install the latest Parallels Desktop 7 update:
1. Download the update: http://www.parallels.com/products/desktop/download/dr/
2. Run the downloaded file and install Parallels Desktop 7.0.15104. Note: only Parallels Desktop application will be reinstalled, no Virtual Machines will be affected.