I'm posting this as I couldn't find this solution documented anywhere (including within MSFT through the discussions around logparser).
Problem: After I installed the Office 2007, my logparser queries which use the parameter "ChartType" no longer work returning the following error:
Error: invalid parameter "chartType"
The solution? Logparser depends on the Office Web Components to create the charts. Just intall them (I just reinstalled the OWC for Office 2003) and everything will work again.