I don't think it's Parallel that causes the heat, but the OS that you are running in Parallel. So you need to provide details on what OS (Vista? XP? Linux?) you are running, and what apps you usually launch in this OS. What much RAM is allocated to the OS?
Having more RAM will decrease the need to temporarily write cache to the HDD, but the CPU still need to work more or less the same degree to support all the apps in two OS. My guess is, going to 4GB RAM will speed up the system, but not likely to cool down the system by a lot.