First, check if I understand it correctly.....when you put another CD into your drive, and you open the explorer, the same files will be shown as the previous CD...right? If that's the case....I had that problem also with my WinME....I can't remember for sure what I exactly did to sort things up.....Try this, but I don't know if it'll work.
If you want to insert a new CD, close all the explorer window thingy's, until you see the desktop. now eject the old CD and put in the new one (wait until the CD is done with spinning in your drive)....I thought that was the methode that I used back in the good ol' days
I'm just a lurker these days, I feel like an 80 year old gramps, watching his grand children play outside *sigh*