Wow... I might have finally found someone with worse luck with HDDs than I have! 
HDD failures are quite unpredictable... sometimes they will be intermittent (you might be able to read the files perfectly tomorrow morning!) but sometimes the data in the bad blocks are gone for good. The failure you're seeing is occurring while Fusion is trying to reading in the suspended state of the VM (i.e. the virtual RAM that we saved to a file), and if you lose that suspended state, it's roughly the same effect as a power failure on a running physical computer: There's a reasonably good chance that it'll boot up just fine afterwards, but there are no guarantees...
The most important part of the VM is the virtual hard disk. The information you've provided unfortunately doesn't tell us enough to say whether you'd likely succeed in copying the VM's hard disk and other files. Give it a try! Maybe look around for data-recovery software if you find that you need it, or post back here with additional questions... There's a bit of data recovery knowledge floating around in these forums.
If you can successfully copy the files off the HD and onto a new HD, there's a very good chance that you will be able to boot it right up again.
Cheers,
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Darius