Place shallots and garlic in a small aluminum foil pouch and drizzle with olive oil. Roast 20 to 30 minutes or until tender.
Remove from foil and chop. In a large saute pan, reheat reserved bacon fat over medium heat.
Add roasted shallot and garlic and saute for 1 minute.
Add flour and stir for 1 minute.
Whisk in heavy cream and thyme. Reduce by a third. Stir in cheeses until melted, creamy and thickened. Season to taste with salt and pepper.
Remove from heat and gently stir in pasta.
Place in a 9X13 casserole dish. In a small bowl, mix together diced bacon, bread crumbs, butter and parsley. Top Mac n Cheese with Panko mixture and bake uncovered at same heat until bubbling and lightly browned on top, 20 to 25 minutes.