MHDT Paradisia DAC connections

I plan to buy a MHDT Paradisia DAC from Ebay and would like to ensure about the connections.

Can I connect both same time my cd player (Shanling cd-s100 mk 2) and my DVD player (Pionner Elite 79avi) to the DAC and switch between them whatever I want to play.

That shouldn't be a problem at all. Use the coax for one and the optical for the other.
I have a Constantine Dac and, like the Paradisea, it uses a switch to select your source connection. Like Gmood1 said, use BNC/Coax for your CD and TosL for the DVD and select the source, it should dissable the one unsused...just be sure there is no funny sound comming from the system !!!