Nope. The Directv On Demand system is all Internet based. When you select a program to "Watch Now" it initiates the record process and you're actually watching the recording as it loads. Sorry, but deleting the program from your "list" (or allowing it to expire and auto delete) are your only options.
the difference here is that your cable company provided you with the intenet as as such they can control they quality of the picture when you stream their VOD. with DirecTV , since they do not know what good of an internet connection you have, they have to go to a download method to provide all of its customers with the same picture quality regardless of speed bandwith.