No, I don't think there is such an option.
But it ROCKS!!!!! (XboxMediaPlayer).....I was STUNNED to see the quality. I installed it yesterday and it took some figuring out on where to put the .AVI files to make them "detected", but when I played a 700MB DVD rip of Resident Evil I really was stunned! MUCH better than my PC!
I guess those guys are coding like crazy to release a final. Really looking forward to that! Would be cool if I could use the DVD Remote! Guess that could be done, but I'm a REAL n00b, so I really have no idea.