I'm running an image of a server in Small Business Server 2003 in VMWARE. During bootup at the login screen right before you can login and sometimes a few seconds after pressing CTRL-ALT-DEL the server says it is Shutting Down.
We can always login under Safe Mode, and there is nothing listed in the Event Log concerning Shutdowns or Critical Errors.
The VMWARE image was created using VMWARE Converter on a live production server. IE: While the server was running.