Not that I know of, but as long as the drive has an activity light, you can usually see when the write has completed, which is generally pretty quickly--I don't think the MacOS does any lengthy caching.
Is this any different from the situation with newer versions of Windows? I thought you had to go through the whole "disconnect" procedure to remove, say, and thumb drive from a Win2K or XP box. Heck, even a floppy could be screwed up if you didn't wait for the write to finish before hitting the eject button.