If not what are the implications of going back to an older OS?
In our video lab our are Macs are frozen to OS 10.9.5. We do this because we believe OS 10.9.5 is the last version to run iMovie HD 06 with no issues. It also runs iDVD perfectly.
Obviously, we would be perfectly happy to use the current Mac operating system, but sadly the best video tools don't run on it anymore. Nothing unusual about this philosophy. In the last years of the space shuttle, NASA was using 25 year old computers.
Clearly, Apple thought optical media was out-ski. But with the advent M-Disc and it's 1000 your lifetime optical media is proving to be the best choice for making backups (or movies) that you need to last longer than 5-10 years.
There are options for editing movies and burning DVDs that run on the latest Mac OS. I have tried most of them.
For editing movies there are some decent choices, but when it comes to authoring a DVD nothing comes remotely close to iDVD. The ease-of-use is incredible, we usually create moving menus for chapter selection. With iDVD you can author a DVD to Hollywood standards. (For making Blu-rays, we use Toast.)
If you would like to see a 64-bit version of iDVD you can make a nicely worded suggestion to Apple.
https://www.apple.com/feedback/macos.html