CD-Text is an interesting issue on the Mac.
First off about hardware. I'm not sure if it does support CD-Text, try going to Roxio's site and look at CDText compatability for the Pioneer A03 (or is it A01?). That's the drive that's "Superdrive"
There are a number of external firewire drives that support CD Text. Just about all of the pre-made drives from Que, LaCie, etc use drives that do it (Plextor, etc). You can be sure that Sony Drives do it as well since Sony invented CDText.
Software is another issue. Roxio Toast does not support it, nor does iTunes, nor does Charismac Discribe, or any of the others. The only program that does is B's CD Recorder (Japanese), or the english translation, Nero's NeroMAX.
Unfortunately, getting it is hard. They don't have an online downloadable version like they do for PCs, and it's only bundled on "certain" drives even though I've never seen NeroMax listed as bundled software for any burner.
-vasu