Yes, sort of.
You have to have a still image in the background. Whether it's temporary or permanent makes no difference. You simply must have one to add a multi-layer PSD file.
Make a PSD file in Photoshop 7 or later. Make your text layers.
After you have a still image background, go to BUTTON and then in the import manager, go to the OBJECT and GENERAL OBJECT. Import your PSD file. Drop it on the desktop as a button. Each layer can be resized and linked independently. You can also resize as a whole. I would suggest, if you want to use a multi-layer PSD file, to use the background as a BMP file in DVDWS2, and not as a background layer in the PSD file. It just looks better coming from a BMP.
Sort of round-about, but works great.