Gruñón is exactly right. There is no compression adjustment such as the slider found in dvd shrink.
However, there are several ways to affect the amount of compression being applied.
The first and most obvious is to select DVD5 or DVD9 as your target size.
You can also adjust the maximum file size on an SL burn.
This will give you some control. However, when in DVD5 mode, the files should always fit on SL media, regardless of the amount of compression being applied.
The disc may be poor quality if overly compressed, but it should still fit
I believe the default setting is 4300 MB, at least it used to be.
The upward limit for SL is 4472 MB. Personally, I use 4460 MB as my max.
If you burn this close to the edge, you need to be using top quality blank media such as Taiyo Yuden or Verbatim and be using hardware that is reliable and in good repair.
What is your DVD5 setting? and how large are your output files in DVD5 mode?
What titles are giving you trouble?