1. Verify the user account: __vmware_user__
    Control Panel > Administrative Tools > Computer Management > Local users and groups
  2. Open Local Security Settings:
    Start > Run > secpol.msc
  3. In Local Security Settings, go Security Settings > Local Policy > User Rights Assignment > “Allow logon through Terminal Services Properties”
  4. Make sure __vmware_user__ is a member of the “Allow logon through Terminal Services Properties”
  5. Make sure vmware_user is in the “Log on as a service

Thanks to CrispinH on this forum:
http://communities.vmware.com/thread/120532;jsessionid=F389BA6619393BBE59D35FAF6AECFF29?start=15&tstart=0