We characterize the immiscibility-miscibility transition (IMT) of a two-component Bose-Einstein condensate (BEC) with dipole-dipole interactions. In particular, we consider the quasi-two-dimensional geometry, where a strong trapping potential admits only zero-point motion in the trap direction, while the atoms are more free to move in the transverse directions. We employ the Bogoliubov treatment of the two-component system to identify both the well-known long-wavelength IMT in addition to a rotonlike IMT, where the transition occurs at finite-wave number and is reminiscent of the roton softening in the single-component dipolar BEC. Additionally, we verify the existence of the roton IMT in the fully trapped, finite systems by direct numerical simulation of the two-component coupled nonlocal Gross-Pitaevskii equations.