I use OpenGL in VMs quite often, the trick is to resort to software rendering rather than hardware rendering (which ends up being subpar as you have experienced).
On Linux with mesa it is quite easy, just an env var.
On Windows I can recommend Mesa3D For Windows - Federico Dossena which has worked for me without flaw.
Just place the dll on the same dir where the application executable is, and you get proper OpenGL support! Obviously through CPU, so it runs slow, but on a VM who cares anyway.