Thanks Woody ... OK ... that's a decent orientation. So, the native file system would be considered essentially as a foreign file system to the application ... and the application still sees its root file system as the VM's.
How about networking? It sounds like I have the same flexibility as in Workstation ... and would likely want to create a NAT for the Fusion application?
BTW, this is for distributing an academic application ... FYI, cytoscape.org, which is open source and free to all.