Offline list only supports one directory (and subfolders) for each dat. So if you'd want to put your rom on a cd/dvd you'd have to change the rom folder for that dat to your cd/dvd rom drive. this means you can't add new rom since they're on a disc (except if you use dvd-ram, then it could work but you'd be limited to 4,3 gig anyway).
Also, some roms have very long file name, they would probably get truncated on disc, meaning again that they will appear orange (wrong filename) but thats not that big of a problem.
What you can do is create another dat, say with the current data, just use the actual dat and rename it. It will appear has another dat (ex: cd/dvd nds 01) and you can use your cd/dvd drive folder for this dat.
But it would indeed be nice to have multiple rom folder possibilities for each dat, Replouff is betatesting a new version i'll try and ask if it would be hard to implement but don't hold your breath.