Well I finally got a copy, but I have not been able to get it to work as it requires PAL. I'm NTSC and I have it hooked up to my NTSC TV. I have been looking at the CD and it does seem to be a hack job of both regular CD32 games and WHDLoads. There does seem to be a custom Menu setup that is pretty cool! I am trying to recompile it with just the C:PAL command removed from startup-sequence, as this is what throws the CD into PAL mode upon bootup. With this command removed I may be able to get it to work on my NTSC unit!
I did some research and came up with answers to my own questions: Apparently to make a CD32 game you need the trademark files CDTV.TM or CD32.TM, which are copied onto the bootsector of the CD. The rest of the CD is just like a floppy: you need the s/startup-sequence, and all other files to be able to boot. You also need to use a Amiga Burning program to do this like Make CD. I have made a few custom games and this does work! Now with the task of getting this CD32-200 to work in NTSC!