Can you upload the vmware log from your VM's directory? (You'll have to right click on it to open the package contents and the file will be called vmware.log)
Also, you might try the following:
1) In VM settings, make sure the CD-ROM drive has "connected" checked. Try rebooting with this setting.
2) Are there any messages about a drive not being able to be connected at startup?
3) Try choosing cdrom0 instead of Autodetect as the cd-rom backend.
4) Try creating an ISO image of the CD and installing from that.
Please let us know if any of these help. Thanks!