No - sadly. Apple® TV is a closed platform that can only be extended and modified through software updates by Apple®. If you are looking for a customizable and extendable media center system, we're recommending to buy a Mac® Mini and Remote Buddy. Such a system will not only allow you to play back DVDs, but also allow you to add a third-party TV solution.

Even modified Apple® TV systems lack the required interfaces, applications and abilities - like f.ex. the ability to install your own kernel extensions - as that using Remote Buddy on that device would currently make sense.