HP claims to have a way to do this, they call it lightscribe. It uses a special laser sensitive ink embedded into normal cd/dvds. You simply turn over the disc and run it through the lightscribe enabled software to translate laser light from your drive into a precise chemical reaction on each point of the CD face, this reaction of course causing a controllable color change at each point. Apparently it's very accurate with vivid colors which are highly durable. Supposedly it's silkscreen quality.
http://www.lightscribe.com/flash_video/Lightscribe1.swf
http://www.lightscribe.com/index.aspx
Anyhow I have no idea how good it works but preliminary reports are positive. From their site:
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With LightScribe, your disc is your label. This amazing technology is the no-hassle way to create awesome-looking labels for all your music mix CDs, digital video or photo archives, and for any business application. And they're labels that last and last. The sky's the limit in designing and producing labels that express your creativity and personality.
Soon you will be able find this amazing technology supported by all your favorite computer, labeling software, and disc brands. Look for the LightScribe symbol on the packaging of these products & it's how you know you can create direct disc labels. Only LightScribe-enabled products let you burn direct disc labels.
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I can hardly wait!!!![]()

for the tip Corey
... van gogh perhaps?