A nice write-up of the current state of 3D support for Linux:
http://www.phoronix.com/scan.php?page=article&item=vmware_vmwgfx_g3d&num=1
The recent nightly builds of what will become Ubuntu 12.04 LTS are working out of the box with Fusion 4.1.1 (there is a typo in the Phoronix article) Remember to enable 3D under Settings > Display > Accelerate 3D graphics, it is disabled by default for Ubuntu VMs.