Why is Windows 7 giving me a software counterfeiting error?
I was able to get my Macbook Pro to run the same licensed copy of Windows 7 Ultimate on both Bootcamp and Parallels 5 by activating it on both.  I was having trouble running and activating it on my Parallels VM which ran the Bootcamp install.  So what I did was change the MAC address of eth0 to match the one from Bootcamp.

Once I changed that, I called Microsoft and activated via their automated system, which generated a set of numbers/code for me.