Did they ever make an action replay for Dreamcast?

[17daysolderthannes2]

I would see if this strikes your fancy first:

http://dcisozone.com/downloads/678/Dream-Explorer.html

it's a disc containing shit tons of VMU saves, possibly some with cheats enabled.

Also, rather than spend money on a cheat cd that has long been out of production (and thus developers aren't missing out), google "dreamcast cheat cd" and click the first result, that should contain anything you could ever want or need.