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I have a SL VM running under Parallels 9 under Mavericks. If I wanted to move this to another machine, also running Parallels 9 under Mavericks, would this work? Also, what is the success rate of updating Parallels and having your VM still work? In other words, if I decided to update to the latest version of Parallels, will my VM still work ok?
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I've moved a Windows VM to another machine with no issue. Sort of the same thing when I did a fresh install of Parallels and "reattached" an existing VM I had. Also never had any issue with updating Parallels. It just updated the Parallels tools the next time I booted the VM.
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Moving it shouldn't be a problem. Updating Parallels shouldn't trash your VM but the newer Parallels may want to update it.
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You can work on a copy of the VM. Fusion 8 wanted to update the Fusion 7 VMs that I copied to the drive where 8 is installed. I can't remember what the deal is with Parallels.