I just loaded the Connect software on my Mac Mini using Parallels.
The software install and ran. I was able to authorize the computer and when I plugged in the reader it was recognized. When I clicked on the reader in the sidebar I saw all the books I had downloaded.
This doesn't help those with older Macs, but it is good new for those with the Intel Macs.
Off topic, it amazes me that XP boots almost instantly with my Mac/Parallels, but takes what feels like hours on my laptop