In a large saute pan over high heat, add olive oil. Add red onions and saute until tender. Season with salt and crushed red pepper. Add mushrooms and bay leaf and cook until mushrooms begin to brown, about 4 to 5 minutes. Deglaze the pan with balsamic. Add parsley and garlic and cook for 2 minutes. Add wine and demi-glace and reduce heat to medium-low. Let simmer for 10 minutes or until the sauce thickens. Add cream and stir to combine. Simmer for another few minutes or until sauce coats the back of a spoon.
In a large pot of boiling salted water, add porcini ravioli and cook until they come to the surface, just a couple minutes for fresh ravioli. Drain well and serve with sauce over top. Garnish with parsley and Parmesan.