I wouldn't have thought it would be (easily) possible.
The reason is, booting from VHD is simply a feature that allows you to do testing, and various other activities, then like a snapshot, delete/rollback/whatever the vhd file and it will still work.
However, the files on the VHD are still a normal installation of Windows and are tied to one set of hardware.
(Rewritten the next paragraph about 4 times and it still doesn't sound right - if anyone else has anything better, please edit!)
That being said, when you mount this VHD as the virtual machine hard drive - the HAL will get tied to the virtual machine - the only way around it would be to copy the VHD file into another virtual machine hard drive (VHD, VMDK or other), mount that new one as the virtual machine then install the Windows boot loader so you can launch the actual VHD as a VHD Windows... (However, I have never tried, but I assume this should work).
Lastly, as I have written in a few other answers, the only real way around this would be to run something such as sysprep with generalise every time you shutdown/reboot your machine which should remove the hardware ties - however, this is time consuming when you restart and is not very practical.
... Honestly, if you have a fast machine and unless you really need a graphically intensive application, you are much better off just completely running Windows virtualised - or two separate instances and a shared file space.