The closest that comes to this idea seems to be CD-Persistant for Morphix, http://am.xs4all.nl/phpwiki/index.php/CD-Persistant

"This mini-module saves user files, setting and configurations to another mini-module. When the generated mini-module(s) are loaded it will auto-magically restore these files. The mini-module can be used in conjunction with a Morphix CD burnt as a multi-session CD, to save your user files, setting and configuration to the same CD"