I have similar problems running recent OpenSolaris builds on VMware. The solution is to shutdown the VM, delete the .nvram file from the VMs directory, then restart the VM. Choose the "text boot" option since this will let you see the tell-tale "Time-of-day clock unresponsive: dead batteries?" message as the system boots which will tell you when you this fix is needed.
Are you running VMware on Windows or Linux? Cheers Andrew. -- This message posted from opensolaris.org