One Arduino resetting another by cutting Vcc

I'm sure someone else can give you a more accurate technical answer but I have observed Atmel chips running with the power disconnected but the UART still connected so yes, they can 'run' from parasitic power off the RX line.

This was with standalone chips rather than an Arduino board though. Also I've no idea how well it ran but it was enough to light some LEDs connected to the chip.