After two rounds, the field will be cut to the low 70 professionals and ties.
Currently, Sorenstam is in a group that is is below the cut. I believe she is tied for 72nd now that everyone has finished the first round. Since only the top 70 and ties stay in, she would miss the cut if it were made today. Of course, it isn't made today, it is made after tomorrow's round. Since only players who shot par or better are in the top 70 finishers today, the "projected cut" is even par. Sorenstam is one shot worse than that, being one over par.
The most important number for Sorenstam tomorrow is not par, or how many strokes she hits, or anything like that. It is the position she is in relative to the field. Anything worse than "Tied for 70th" and she will miss the cut. Odds are pretty good, though, that she will have to shoot par or better in order to be in the top 70 (plus ties) finishers.
Hope this helps.