disParity only puts parity information on the parity drive. The other drives remain untouched.
WHS mounts the drives that you add to the drive pool under a folder (C:\fs or something similar). WHS can move content around during the hourly DEMigrator run, so your parity info would potentially go out of date very quickly without any warning if you are pointing disParity at the actual partition mounts. If you have WHS PowerPack 1 installed, files get moved around far less often, but it can still happen. You could try scheduling a task to run disParity more often, but you run the risk of disParity accessing files while DEMigrator is moving them around. I believe at this time, disParity does not handle reading files while other apps are modifying them.
Another complication comes when restoring content after a drive failure. You must never directly write files to any of your secondary drives. All writes must happen via D:\shares or \\server\share in order to avoid breaking Drive Extender. So you would have to restore the files to a directory under D:\shares, or to a different drive and then copy them back into the pool thru D:\shares.
If you do decide to go forward with this, make sure that you have a complete understanding of how Drive Extender works. Exclude your parity drive from the pool by marking it as a backup drive (and choose to keep content). That will keep you from accidentally adding it to the pool at a later date and losing your parity info. Also do a test with a small folder and prove that you can restore your files after a simulated failure in a way that doesn't break WHS.
I've been running WHS for a long time now, so feel free to ask if you have any specific questions about it (how Drive Extender works and how to avoid breaking it, etc). We've had this same conversation in the past regarding WHS and FlexRAID over at the FlexRAID forum (http://www.openegg.org/forums/posts/list/28.page). You can read that thread and gather additional info since disParity and FlexRAID would have the same concerns/limitations when working with WHS.
-BK