I have created CD0 using cachecdfs, cybppc.device and ID of 4. Mounting it doesn't create any error messages, but it doesn't show the CD icon on the desktop either even when there is cd inserted in the drive. If I try to use shell to check what is in the inserted cd, requester just pops asking for to insert drive CD0...
Try typing "diskchange CD0:" (no quotes) into a shell window. If you still get the "please insert..." requester, then you know your mount command hasn't stuck.
You didn't mention exactly how you're mounting the device driver either. Is it done from your SUS using the "mount Devs:DOSDrivers/#? ~(.info)" method, or are you doing it from a commandline?