"An image can be mounted as a virtual hard drive for use with a virtual machine. pVHD images can easily be converted to VHD, VHDx, or VMDK formats" --http://www.paragon-software.com/news.htm?id=0265 Can this be done? If so, how??
I don't see any method to convert pVHD to one of the other formats. You can back up to VHD or VMDK format (instead of pVHD), however those images don't seem correct. I am unable to mount them in VirtualBox/OSFMounter/Windows8.1.
Quick update...I can mount the entire image in VirtualBox, set it as a bootable disk for a new VM, and it appears to work. However vboxmanage doesn't like manipulating the VHD image. Strange. Maybe it has to do with GPT vs MBR? (My tests are all on GPT partitioned disks.)