Multiple Languages - Challenging Question

Question

This may be an easy answer, as in 'can't do it' however, here it is:
Project includes two languages - English, Spanish
I understand the multi-language menu setup and multi-audio stream setup.
In each video sequence of the project, two separate graphics appear. A title graphic and a unique graphic (both Photoshop files). Each graphic, today, includes English text and I will soon duplicate the sequence/graphics with Spanish text.
What I'm try to avoid is having to compress the same sequence twice - once with English graphic and once with Spanish graphic. My thought is to compress the entire sequence less any text in graphic and then create a separate .m2v with only the text (one for English, one for Spanish).
From there, I thought of pulling them into DVD Pro. When a user selects English, they would see the primary .m2v (no text), as well as the .m2v with the English text overlaying the first. Would see similar if Spanish.
This was a longshot and does not seem like a viable option. Again, the answer may be that the only option is to compress the complete sequence twice (taking up siginificant space on the DVD) - once for English, once for Spanish.
Thoughts on any other option?
Thank you.

Answer 1

use subtitles should do it (depending on how often it changes, it can be a pain, and may not look aas good as in the actual movie.)
Links and examples to some of the scripting concepts if needed
http://discussions.apple.com/message.jspa?messageID=2069686#2069686
http://discussions.apple.com/thread.jspa?messageID=2243316&#2243316