Heat oven to 300°F. In medium bowl, mix crumbs, 2 tablespoons sugar and the butter. In ungreased 9-inch springform pan, press crumb mixture in bottom and 1 to 1 1/2 inches up side.
In large bowl, beat cream cheese, 1/2 cup sugar and the vanilla with electric mixer on medium speed until smooth. Add eggs, one at a time, beating until smooth after each addition. Reserve 2 tablespoons of the toffee bits for garnish; gently stir remaining toffee bits into cream cheese mixture. Pour mixture into crust.
Bake 50 to 60 minutes or until set. Turn off oven; leave door open 4 inches. Cool cheesecake in oven 30 minutes.
Remove cheesecake from oven; place on cooling rack. Without releasing or removing side of pan, run metal spatula carefully along side of cheesecake to loosen. Cool 30 minutes. Run metal spatula along side of cheesecake to loosen again. Refrigerate uncovered until thoroughly chilled, at least 3 hours.
In small microwavable bowl, microwave chocolate chips and whipping cream uncovered on High 20 to 30 seconds or until chips are melted and can be stirred smooth. Cool 5 minutes. Spread topping evenly over top of cheesecake. Sprinkle reserved 2 tablespoons toffee bits around outer edge. Refrigerate until topping is set, about 15 minutes. Remove side of pan before serving.