Re: "The file specified is not a virtual disk" error after machine Kernel Panic'd.

I dont see any branching in the snapshot manager. Looks like the chain is broken or handled incorrectly.

Please take a backup copy of Ubuntu12.04LTS.vmwarevm before modifying any files within it.

Try this :

Edit the vmx config file and change the hard disk to Virtual Disk-000005.vmdk .

Edit Ubuntu12.04LTS.vmx file in textedit

Replace

scsi0:0.fileName = "Virtual Disk.vmdk"

with

scsi0:0.fileName = "Virtual Disk-000005.vmdk"

For details on editing vmx refer

VMware KB: Editing the .vmx file for your VMware Fusion virtual machine

Running the Virtual machine from base disk should have worked though.