Maven is 3.1.0.
I'm using versions-maven-plugin:2.2 in my project's pom.xml (as shown below). Apart from the usual pom.xml file configuration, I'm just showing the main code snapshot below:
<project
  xmlns="http://maven.apache.org/POM/4.0.0"
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
      xsi:schemaLocation="http://maven.apache.org/POM/4.0.0 http://maven.apache.org/xsd/maven-4.0.0.xsd">
    <modelVersion>4.0.0</modelVersion>
    <artifactId>tools-parent</artifactId>
    <version>0.0.7-SNAPSHOT</version>
    <packaging>pom</packaging>
    <description>
        Infrastructure related to the "vapp" and
        "deployer" utilities.
    </description>
    <parent>
        <groupId>com.company.product</groupId>
        <artifactId>deploy-parent</artifactId>
        <version>0.0.6-SNAPSHOT</version>
    </parent>
    <build>
        <plugins>
            <plugin>
                <groupId>org.apache.maven.plugins</groupId>
                <artifactId>maven-scm-plugin</artifactId>
                <version>1.9.4</version>
                <configuration>
                    <connectionType>connection</connectionType>
                </configuration>
            </plugin>
            <plugin>
                <groupId>org.codehaus.mojo</groupId>
                <artifactId>versions-maven-plugin</artifactId>
                <version>2.2</version>
            </plugin>
            <plugin>
                <groupId>org.apache.maven.plugins</groupId>
                <artifactId>maven-enforcer-plugin</artifactId>
                <version>1.4</version>
                <executions>
                    <execution>
                        <!-- Make sure that only non-snapshot versions are used for the dependencies. Only active when property 'snapshotDependencyAllowed' is false. -->
                        <id>enforce-no-snapshots</id>
                        <goals>
                            <goal>enforce</goal>
                        </goals>
                        <configuration>
                            <skip>${snapshotDependencyAllowed}</skip>
                            <rules>
                                <requireReleaseDeps>
                                    <message>No Snapshots Allowed!</message>
                                </requireReleaseDeps>
                                <requireReleaseVersion>
                                    <message>No Snapshots Allowed!</message>
                                </requireReleaseVersion>
                            </rules>
                        </configuration>
                    </execution>
                </executions>
            </plugin>
        </plugins>
    </build>
</project>
Now, when I run: mvn clean install, it builds successfully.
NOTE: In my project, I have a parent section, where I'm dependent upon deploy-parent artifact whose group id "com.company.product" is the same group id what I want to tools-parent artifact (whose pom.xml I have pasted above) but deploy-parent is an artifact of another repository/project.
When I run: mvn versions:set -DnewVersion=0.0.7, I get the following error message.
[INFO] ------------------------------------------------------------------------
[INFO] Building tools-parent 0.0.7-SNAPSHOT
[INFO] ------------------------------------------------------------------------
[INFO]
[INFO] --- versions-maven-plugin:2.2:set (default-cli) @ tools-parent ---
[INFO] Searching for local aggregator root...
[INFO] Local aggregation root: /user/home/u100123/giga/tools
[INFO] Processing change of com.company.product:tools-parent:0.0.7-SNAPSHOT -> 0.0.7
[INFO] ------------------------------------------------------------------------
[INFO] Reactor Summary:
[INFO]
[INFO] tools-parent .................................... FAILURE [1.093s]
[INFO] ------------------------------------------------------------------------
[INFO] BUILD FAILURE
[INFO] ------------------------------------------------------------------------
[INFO] Total time: 2.404s
[INFO] Finished at: Fri May 01 20:44:22 GMT-00:00 2015
[INFO] Final Memory: 12M/246M
[INFO] ------------------------------------------------------------------------
[ERROR] Failed to execute goal org.codehaus.mojo:versions-maven-plugin:2.2:set (default-cli) on project tools-parent: Execution default-cli of goal org.codehaus.mojo:versions-maven-plugin:2.2:set failed. NullPointerException -> [Help 1]
[ERROR]
[ERROR] To see the full stack trace of the errors, re-run Maven with the -e switch.
[ERROR] Re-run Maven using the -X switch to enable full debug logging.
[ERROR]
[ERROR] For more information about the errors and possible solutions, please read the following articles:
[ERROR] [Help 1] http://cwiki.apache.org/confluence/display/MAVEN/PluginExecutionException
NOW, when I change the versions-maven-plugin version back to 2.1 (which what I was using earlier), the above mvn versions:set -DnewVersion=0.0.7 command is working successfully and pom.xml file is successfully getting changed to <version>0.0.7</version> for tools-parent artifact.
With version 2.2, it's giving me the error and not changing the version to 0.0.7.
The Maven Versions plug-in provides goals to check your project dependencies for currency in a different ways. One useful goal is versions:dependency-updates-report . The versions:dependency-updates-report goal examines a project's dependency hierarchy and reports which ones have newer releases available.
The Versions Plugin is used when you want to manage the versions of artifacts in a project's POM.
A Plugin Version contains all the information about a particular version of a Plugin. Some notable fields include the URL to the plugin package, the version number and what plugin is it the version of.
It seems like some bug.
Solution:
1. I have to add <groupId>com.company.product</groupId> property outside of ... section as well i.e. for tools-parent, NOW version-maven-plugin:2.2 is working fine i.e. I added the top line (as shown below). The only thing is, what's the use of parent section then (apart from inheriting the main code of what deploy-parent is brining to tools-parent project). Why groupId needs to be defined output of parent section for artifactId tools-parent when it's already there in the parent section for versions-maven-plugin:2.2 to work successfully. 
The most important thing is: This issue occurs only in case your pom.xml for a project/module has a <parent> section where the parent section's artifactId is not the parent of the project itself (a typical - Maven Uncle situation) i.e. if tools-parent artifact is defined in the parent section of another module (lets say tools-child) then version 2.2 will work successfully. But if tools-child's parent section is not containing the artifactId as "tools-parent" and is something else for ex: deploy-parent/some-different-project-artifact (which resides in a different project in your source control tool) then, for tools-child artifactId, we need groupId value also set outside of the parent section as well (even if the groupId of parent section's artifactId is same/different to tools-child's groupId). 
<groupId>com.company.product</groupId>
<artifactId>tools-parent</artifactId>
<version>0.0.7-SNAPSHOT</version>
<packaging>pom</packaging>
<description>
    Infrastructure related to the "vapp" and
    "deployer" utilities.
</description>
<parent>
    <groupId>com.company.product</groupId>
    <artifactId>deploy-parent</artifactId>
    <version>0.0.6-SNAPSHOT</version>
</parent>
--OR
2. Switch back to versions-maven-plugin:2.1
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