I tried installing Ubuntu 12.04 into VirtualBox 4.2.4 on a Windows 7 laptop and kept getting graphics errors.
Tried again, but this time after creating the VM and before installing Ubuntu, I set the the graphics settings of the VM (via vb console) to 64mb and 3D. Now it installed. I previously tried Ubuntu 12.10 but gave up. Maybe with this preinstall config change I will try again.
Most of the Linux install on VirtualBox instructions skip any configuration of the VM and go straight into installing the guest OS.
Laptop: HP Pavilion dv7, 8GB Ram, quad core i7 CPU, 2.2 GHz. 17″ screen.