Yes of course. This is the way we make autolaunches. You insert your CD, the autolaunch is started an a menu pop up. People select the audio or the subtitles they want.
All is done with ini files or in your case bsi files. Look at the "ini_files.html" located in the \doc subfolder of your BSplayer program.
Ini files are not easy to create at first and many get problems. So read the doc and read it carefully. All is explained in it.
For the laziest, here's a proggy which allow to create ini files as fast as some clicks. ;)
http://www.ifrance.com/kpage/datas/IniMaker.rar