Place 1/3 cup morsels in a medium glass bowl, and microwave at HIGH 1 minute or until morsels are almost melted, stirring until smooth.
Let cool.
Add the cheese to melted morsels, and beat at medium speed of a mixer until smooth.
Add 1 (16-ounce) package powdered sugar to cheese mixture; beat until well-blended.
Press mixture into a 6-inch square on heavy-duty plastic wrap, and cover with additional plastic wrap. Chill at least 1 hour.
Remove top sheet of plastic wrap; cut mixture into 48 squares.
Roll each square into a ball, and place on wax paper.
Roll half of balls in cocoa; roll remaining balls in 1/4 cup powdered sugar.
Place 2 tablespoons morsels in a heavy-duty zip-top plastic bag, and microwave at HIGH 1 minute or until morsels are softened. Knead bag until smooth. Snip a tiny hole in corner of bag; drizzle chocolate over balls rolled in cocoa.
Serve at room temperature.
Note: Store truffles in a single layer in an airtight container in freezer for up to 1 month.
Let stand at room temperature 1 hour before serving.
