Here is what I did:

Used the cd-key maker to make 2 mpq files with my cd keys and named them cdkey1.mpq, cdkey2.mpq(read instructions in the download)

I then created 2 shortcuts with these lines:
"Diablo II.exe" -ns -w -mpq cdkey1.mpq -title "Key1"
"Diablo II.exe" -ns -w -mpq cdkey2.mpq -title "Key2"

Works great on both my machines I have LOD installed...