We investigate numerically parametrically driven coupled nonlinear Schrodinger equations modelling the dynamics of coupled wavefields in a periodically oscillating double-well potential. The equations describe among other things two coupled periodically-curved optical waveguides with Kerr nonlinearity or horizontally shaken Bose-Einstein condensates in a double-well magnetic trap. In particular, we study the persistence of equilibrium states of the undriven system due to the presence of the parametric drive. Using numerical continuations of periodic orbits and calculating the corresponding Floquet multipliers, we find that the drive can (de)stabilize a continuation of an equilibrium state indicated by the change of the (in)stability of the orbit. Hence, we show that parametric drives can provide a powerful control to nonlinear (optical or matter wave) field tunneling. Analytical approximations based on an averaging method are presented. Using perturbation theory the influence of the drive on the symmetry breaking bifurcation point is discussed.
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