I spent a lot of time looking in to this, to discover the solution is fairly simple.
Steps:
1. download the GEAR ASPI package for x64 from here.
2. Install it but don't reboot.
3. Navigate to X:\WINDOWS\SysWOW64\Drivers and backup the file GEARAspiWDM.sys just in case anything goes wrong.
4. Copy GEARAspiWDM.sys from X:\WINDOWS\system32\drivers to X:\WINDOWS\SysWOW64\Drivers
5. Reboot.
iTunes should now recognize your cd burner and you won't have to put up with two nasty red X's in your event log on every bootup.