The "No disk" loop issue is fixed in v.1.8.0.459. Thank you.
Here's a new issue involving the same item (item shown in the screenshots above).
Startup Manager, redirected item cannot be disabled or removed
Software Manager shows DVDShell.dll as loaded from this key: HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\explorer\ShellExecuteHooks
That key redirects to this CLSID key: HKEY_CLASSES_ROOT\CLSID\{93994DE8-8239-4655-B1D1-5F4E91300429}
And O:\PROGRA~1\DVDIDL~2\DVDShell.dll is actually data in the InprocServer32 subkey (see screenshot here) .
Here are the issues for PowerTools:
The Disable button causes a progress indicator to appear. Its duration is short (just a flash). The item still shows "Yes" in the "Enabled" column. Also, the internal use folder for SUM contained no changes. In other words, nothing was done.
The Remove button causes:
1. a backup dialog
2. the item to drop from the list
3. this message: ": All done! 0 B of data was removed (0 files, 0 directories, 0 registry entries and 0 registry keys)."
4. no backup
*** The item is still in the list the next time you run Startup Manager. That is, nothing really happened.
I tested one "normal" item (that is, there was no key redirection). Disable, Enable, and Remove seemed to work for it.