If you are planning to play ISO images then it should be just fine but if you are planning to connect the BD device to the compute Stick I see no room for it.
Here is the list of compatible devices for Intel® Compute Stick:
If Intel showcases the same as a full fledge computer, it should recognise an externally connected Blu-ray drive in "Devices and Drives". Has anyone tried connecting a Blu-ray drive?
If it is a USB BD it should work just fine.