This is a kernel module for 2.4.x kernels. There's also an old version for 2.2.x kernels: fakecd-2.2.tbz2 (13619 Bytes), which is not supported any longer, i only use 2.4.x kernels.
fakecds only use is to let VMWare see a normal file as a CD-ROM. It does this by answering some ioctl()s that a CD-ROM would understand with fake answers.
I also have a version that seems to work with kernel 2.4.5 and VMware-2.0.4-1142.tar.gz, here's fakecd-2.4.5.tbz2 (9115 Bytes). Again i stole the loopback driver of the latest kernel and added fake answers for some ioctl()s a one-data-track CDROM would understand.
BUT BE CAREFUL, THIS VERSION IS NOT TESTED.
fakecd heavily depends on the kernel, the loopback device and lots of internal data structures. This makes it hard to have a general version for many kernels. That's why only the latest kernel is supported.