That solution needs an additional cable and that cable will cause trouble due its length. The SoC is not ment to handle cable connections like a regular ATA chip.
The only thing that could (!!) work is a IDE->SATA which can be connected direct to the ide connector on the efika board. Due the conversion to SATA the SoC limits are irrelevant and you can connect standard SATA cables and devices.
The main problem is that you cannot connect two devices at once, so by using an CDROM you loose the harddrive. Thats an additional limitation of the OF, which only handles one device on the bus.