A friend of mine has been trying to figure out how to do this for a while, but hasn't been able to figure it out yet. He's using Virtualdubmod. He says the subtitles are written using Notepad. I don't know much about this, so I'll try to get more info if you guys need it. Help would be really appreciated.
Adding the subs via the stream menu should work (need to be a format supported by ogm). Otherwise just use one of the numerous ogm muxing apps that have been developed over the years. You might also consider using mkv instead of ogm. Just mux the lot with mmg/mkvmerge.