You can create your elearning content in virtually whatever format you want, be it Flash, Director, Java applets or even plain old HTML and Javascript.
I haven't used director before, but I have used Flash to create elearning packages at a previous job. However, I think with director you may need to export your files as .swf's or some other projector file format. I suspect the .dir files are source files like .fla's in Flash..but I could be wrong!
Once you've got all of your course material together, you just need to use something like Reload Editor or eXe to package your courseware up into an IMS or SCORM package.
(I used to use Reload, never tried eXe!)
Also, if memory serves with SCORM and AICC, you may also need to use some javascript alongside your courseware to allow data to be passed back and forth between the VLE and the courseware (passing user name, test scores etc).. At least we did with the courseware at my previous job...I haven't worked in the elearning sector for a few years now and I'm more than a bit rusty, so please excuse me if I'm a bit vague on the details!
Anyway, I hope this is of some help to you!
Cheers for now,
Jas.