In 2-quart saucepan, heat whipping cream over low heat 2 to 3 minutes or until cream is warm. Remove from heat. Add baking chips and chocolate chips; stir until melted and smooth. Cover; refrigerate 1 hour or until firm.
Line cookie sheets with waxed paper. Shape mixture into 1-inch balls, dusting hands with powdered sugar or cocoa, if necessary; place 2 inches apart on cookie sheets. Refrigerate 30 minutes.
Meanwhile, in deep 1-quart saucepan, melt candy coating over low heat, stirring frequently, until smooth. Remove for heat; cool 10 minutes. In small resealable freezer plastic bag, place 1/4 cup melted coating and the green food color; seal bag. Squeeze bag to mix until uniform color; set aside.
Using fork, dip 1 truffle at a time into white candy coating to coat. Return to waxed paper-lined cookie sheets. Cut off tiny corner of bag containing green coating. Squeeze bag to drizzle coating over each truffle (if necessary, reheat green coating in microwave on High a few seconds to make coating drizzle). Let truffles stand until coating is set, about 10 minutes, before placing in foil candy cups. Store in refrigerator.