No, not parallax but rather the way the reticles curl up and down, side to side as you move your head. I
think the center stays pretty well put but that reticle behavior really BUGS me (reminds me too much of a Tasco World Class - the new, cheapy ones that aren't worth spit).
The best test might not be the one I outlined, just hold the rifle up to the point where you can see the crosshairs then move your head while watching them. Try the same with a Leupold. I've got one of these
http://www.lockstock.com/prodinfo.asp?number=ST100993that I would gladly swap for a 3x9 VX-II or Vari-X II in good shape.