The answer is mostly no, with a little bit of yes.
Rollover buttons like this, as you would see on a web page, aren't really possible within the DVD spec. If something is going to animate, it has to be a part of the menu's motion background.
What you can do, however, is create a different menu for each button, animated appropriately. Then set all of the buttons other than the one that's animating to auto-activate with a link to their menu. That way when the user selects it, the menu for that button will appear. There's typically a slight pause when the menu loads, but it's the best you can get.
This won't work when playing the DVD in a computer and navigating with the mouse. The auto-activate functionality doesn't work when using a mouse (it would be quite annoying if it did).