the only service restart that MIGHT cause a VM problem is mgmt-vmware if you have an older release of 3.5 or before, or you have Automatic Startup/Shutdown enabled on the host.
verify that you can use the VI (or vsphere) client to connect directly to the host (use host IP/name in address field and root for username). this goes directly to the host so vpxa's status doesn't matter. If you can login this way, you can manage your vm's (but no vmotion as that's a vc function) and then you can narrow down the possibible problem causes. If you can't get in this way, then hostd(mgmt-vmware) isn't staying running, the watchdog is confused or there is an issue preventing hostd from operating properly.
You can check the first two possibilities by running 'ps -ef|grep hostd', if you only get back the process for grep hostd then you probably need to delete the watchdog PID file. If it is running, check /var/log/vmkwarning and vmkernel for errors. Usually it's storage related problems that cause this.
HTH