Here is my experience installing Chrome OS and few pitfalls I faced in that process. First I headed to ( you need to register on their site) and downloaded the VMWare version of chrome OS.
Then I configured my Virtual Box to use Chrome OS. Here’s how you do it! At when I tried to boot, It did not work well for me as it gave me the error Failed to start virtual machine , Failed to open release log with a VERR_SHARING_VIOLATION?

According to the VirtualBox forums the error is caused when the VirtualBox does not have clean access to the file. Some program might still be accessing or holding it for Read/Write operation. I closed all the open programs also rebooted the host system just to make sure that no program is accessing it.
When I rebooted the system again the OS booted up, but when I tried to login with my gmail ID there was this new error waiting for me Network not connected and offline login fail

After various unsuccessful attempts to fix it like changing the type of OS to Linux/Debian, Linux/Ubuntu in the Virtual Box ( including repairing the Virtual Box Host-only network in Network Connections) , I logged in with the username chronos(no password). I found this in the Virtual Box forums.
Yeah I Finally got in and yes I was able to connect to the Internet after that!