I use a tool called Spirited Away for the mac. It’s a neat little tool that hides my windows after a definable period of inactivity. It’s nice because you’re not constantly bombarded with windows and I can concentrate more on what I’m doing, rather than something beeping and blinking in the background.
However, one of the interesting ( or perhaps annoying ) things is that with the latest Parallels builds, Spirited Away actually hides Windows apps too. I’m assuming with the introduction of Coherence, the window handles for Windows applications needed to be exposed to the underlying Mac OS just like any other Mac application. However, using the Windows application sometimes doesn’t reset the trigger in Spirited Away and it will still hide the window, even if you’re using it. Strange.
Now, spirited away does allow you to exclude applications from it’s control. it’s just a pain to have to do that over and over again for the different windows apps you use.
Hopefully, someone will come up with a better “Spirited Away” type application, especially since it looks like the app itself isn’t under active development ( It’s PowerPC for example ).