Also on at least one other version of VMware (VMware Workstation 5.0 instead of the "Fusion" version), you had to explicitly enable Direct3D support, it was off by default.

See here for some details on that and how to enable it. I'm not sure if this is necessary for Fusion or not, but maybe.

Also maybe the amount of video memory presented to the virtual machine may need to be adjusted to be at least 64MB (mentioned here).

- Michael