In addition to what Quek said, I don't think that VMware is officially supported. However, having said this, if the virtual machine is a supported OS (e.g. RedHat 5.3, say, or SuSE 10 etc.) for the releases of tools that you are using, you should be successful. The tricky thing is the licensing. I believe that you can run the licenses directly on the base system and allow the VMware sessions to access the licenses. It is not supported to actually serve licenses from a virtual machine though.
Hope this helps!