In a large saute pan over high heat, add olive oil. Add the red onion and saute until tender. Season with salt and crushed red pepper. Add the mushrooms and bay leaf and cook until mushrooms begin to brown, about 4 to 5 minutes. Deglaze the pan with the balsamic. Add the parsley and garlic and cook for 2 minutes. Add the wine and demi-glace and reduce the heat to medium-low. Let simmer for 10 minutes or until the sauce thickens. Add the cream and stir to combine. Simmer for another few minutes or until the 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.