A directory there is currently the only way.
This line in django/core/cache/__init__.py is the culprit:
cache_class = getattr(__import__('django.core.cache.backends.%s' %
BACKENDS[scheme], {}, {}, ['']), 'CacheClass')
You could, of course, also smash the django.core.cache.cache attribute
with your own, if you wanted to be rude.
It certainly seems to me that SESSION_ENGINE (with module pathing) is
a better approach than CACHE_BACKEND (with URI-ish schemes). This
could be overcome by allowing scheme resolution to be registered. The
argument for or against is a bikeshed.
Looks nice. Needs a quick addition to docs/settings.txt to describe
the new setting, but otherwise it's good to go.
Jacob