Restart your Mac while holding down your mouse.
If that doesn't help, launch Disk Utility. Select the disc in the panel on the left then click the Blue eject button.
And try dragging the disc to the Trash. The Trash icon should turn into an Eject icon.
Try selecting the disc then from the File menu click Eject.
Hope something worked...
I have this similar problem. iMac G4 800 FP. The Eject menu option is greyed out and when I hit the Eject key on the keyboard, nothing happens. There is NO CD in the iMac. I want to eject so I can insert in a CD....
However it does eject when during bootup I hold the mouse button down.
But why can't I eject when I'm at the desktop?