You are on the correct track but a Lm555 is not fast enough I have found that the LM555 max stable pulse wave is around 1Mhz to 1.25Mhz which is about 100ns depending on the manufacture some only pulse at a rate of 500Khz
and the DVD burning diodes need a PW of 10ns which = 25Mhz to achieve the max pulse power and maintain the life of the Diode.
DSCF5935.jpg picture by FrostyTheDadMan - Photobucket
I have what you are talking about and LaserBee is correct its in testing
I have averaged using a PHR803t running at 150Khz @ 209 mA and have had 244 mA and that's a PHR
Here is a pic of a phr803t running at 209 mA for 58 minutes with out fail but my battery pack lost charge after the 58 minutes past we will be doing a longevity test to see how long the Diode will last.
Its called The Mighty Micro Drive.
DSCF6066.jpg picture by FrostyTheDadMan - Photobucket
When Testing is complete you will be able to get your MMD at LSP Paten Pending #61000221
Read all about it at LE Forum Under The Mighty Micro Drive
I know the datasheet says the diode needs 30ns for pulsed behaviour, but do we really need the 30ns? Can't we use a 1 micro second or less? Maybe I'm plain wrong, can it be that they don't lase if a higher than 30ns pulse is driven into the LD?