Our answer for this has been short and sweet. Use a PC. The advent of a very nice piece of software that came my way was Parallels 6.0.1. After getting Windows 7 installed and running on my trial version I decided to try Hosting from my Own Live Meeting account was pleasantly surprised when I noticed that I could host my meetings virtually from my MacBook.
Here is a walk through of what I did to be able to host/login to my meeting and use the host features while still having access to my Mac as well.
The first thing was first I needed to install the virtualization software that I would be installing Windows on. I chose Parallels for it's ease of use and well quite frankly I like the simplicity of it vs. VMware.
Once installed I then loaded Windows 7 Ultimate 32bit. I will add a suggestion here. Most web conferencing software does not play nicely with 64bit systems, so run 32bit whenever possible. I also ran through the series of updates for Windows and made sure I met three key requirements. That I had the most current version of Flash Player installed in my new Virtual Machine as well as the most current version of Java. (I actually prefer Java 6 version 18-20 as these are all tested and proven to work with most of the web conferencing options out there.)
Next step was to log into my Conferencing hub/Live Meeting management microsite and install the Microsoft Live Meeting application. Once inside the meeting center with the application installed. I was simply a matter of starting with the 'meet now' feature and hosting a instant meeting. (One side note, Microsoft offers some Mac users the ability to click on the link in Live Meeting invitation and to join as a participant, but not to host.) This configuration of running inside the virtual machine offers the user the ability to host and participate as the Live Meeting service see's the user joining from a Windows Machine not a Virtual one and not a Mac.
I did manage to test my sharing of IE and a word document successfully. I also partnered with a co-worker and had him log into the meeting and he could in fact see everything I was sharing or showing.
[crarko adds: There are still some things that require the use of a VM, and this appears to be one of them. It sounds like Office Communicator in Office for Mac 2011 is a first step to improving this but still uses the web version of Live Meeting as a client, and does not let you host a meeting; hence the utility of this hint.]

