I've tested this and could not duplicate the issue.
I'm running it on a Dell Precision Workstation 690. 4GB Ram, Latest build of WB, Windows 7 x64. Video is NVIDIA Quadro FX 570. VMWare Workstation 7.0.1 build-227600.
Running Alluminate by VStyler as my windowblind.
You referenced driver version 197.45. I'm assuming that was a typo as the latest is 197.54 and there is no .45 version located in the archives.
Fired up 3 VM's at the same time.
2 - Windows Server 2003 R2 SP2 x86 with 1GB Ram assigned.
1 - Windows XP Pro SP3 with 1GB Ram assigned.
I ran them all for about 1/2 hour and could not make anything goofy happen.
I would suggest trying a different video card in your system if that is feasable.