Sadly with the MacBook there is no hole for a paper clip.
Which needless to say is an absolute pisser.
I have to agree with Dan, the clicking noise is almost certainly the hard drive. I would love to know the make of the disk itself because there has been some problems with Fujitsu disks, not just in Macs.
Anyway, to eject the DVD/CD make sure it is powered off, then press turn it on holding down the F12 key.
Just tested it on my own MacBook and it worked.