Probably, but I am not at all familiar with it. I use DVDdecrypter to burn (free program) available at this web site. It is an excellent burn engine and I highly recommend it. I works especially well with DVDShrink.
Your movie has to be stored in file mode if you want to shrink the original in order to fit in a dvd-5 disc. the rest is already coverd from our commarads.
The movie can be stored on our HDD either in a video_ts folder or as an ISO image. For working with the video_ts folder, open DVD Shrink, click the big button that says Open Files, then browse to the Video_ts folder which contains the movie you with to compress. Edit as needed, and backup.
If you are backing up using an ISO image, open DVD Shrink and go to file->open disc image, and browse to the ISO image. Edit as needed and backup.