Heat bacon as directed on package; set aside. In small bowl, mix jam and yogurt; set aside.
In 12-inch skillet, melt butter over medium-low heat. Add 2 waffles; cook 3 to 4 minutes or until ridges are golden brown and tops begin to soften. Turn waffles; add remaining 2 waffles to skillet.
On each of first 2 toasted waffles, layer 1 Swiss cheese slice, 2 ham slices, 1 bacon slice, 1 Swiss cheese slice, 1 bacon slice, 2 turkey slices and 1 Swiss cheese slice (evenly arrange cheese so sandwich will hold together). Top each with remaining hot waffle, toasted side down. Cook about 2 minutes or until bottom waffles are browned.
Turn sandwiches; cover and cook about 4 minutes longer or until waffles are browned and cheese is melted. Cut sandwiches in half; lightly sprinkle with powdered sugar. Serve with raspberry sauce for dipping.