Things have gotten a bit sticky with LOTRO over the past month or so. :/
In general, you should download the client. Even if you have the DVD, you will still have to download a huge amount of patches. ...so you're not really saving time. Also, if the DVD has a version earlier than "Vol 1, Book 11", you'll need to find another support file for PyLOTRO to work.
I assume you're trying to use the EU version of LOTRO Vol 1 (Shadows of Angmar) from DVD on the mac. The current version is Mines of Moria (Vol II, Book 7 with Book 8 to be released soon).
If your account is just the original Shadows of Angmar, I'd suggest upgrading it to MoM. New regions, New level cap (to be L65 as of Book 8) etc. ...and the MoM download is easier to find anyway.
Issues with PyLotro are Alan's domain, and he may have a more appropriate answer... (He's the best!)