Hi, mpradmin -
I haven't come across software like that. Although there is probably a tray-status signal used within the drive itself, or at least a microswitch to keep the spindle from spinning up unless the tray is fully in, I doubt that signal is fed to the Mac at all.
Some home-brew thoughts...
A strategically placed mirror could help you see it without getting up.
If the Mac itself is in view, but is oriented such that the tray is not visible, a small flag affixrd to the front door and sticking up should suffice to give the status.
A small mercury switch (like those found in thermostats) could be affixed to the outer door for the drive, and connected to a low-voltage independent circuit with an indicator light. This could be done with components from Radio Shack for not much money, including a transformer brick to get power from. The indicator light could then be placed at your work spot.