Heat oven to 350°F. Line 15x10x1-inch pan with heavy-duty foil. Spray foil with cooking spray. Spread cereal evenly in pan.
Melt butter in 2-quart saucepan over medium heat. Using whisk, mix butter and sugar together until smooth. Heat to boiling over medium heat, stirring constantly. Boil 2 minutes, stirring constantly. Immediately pour mixture evenly over cereal in pan.
Bake 12 minutes. Remove from oven. Cool completely, about 1 hour. Place semisweet chips and 1/2 teaspoon of the oil in small microwavable bowl. Microwave uncovered on High 1 minute to 1 minute 10 seconds, until almost melted. Stir until smooth. Drizzle evenly over half of toffee; sprinkle with half of almonds, pressing gently. Place white vanilla baking chips and remaining oil in small microwavable bowl. Microwave uncovered on 70% power 1 minute to 1 minute 10 seconds, until almost melted. Stir until smooth. Drizzle over remaining half of toffee; sprinkle with remaining almonds, pressing gently. Refrigerate 20 minutes to set chocolate; break into pieces. Store tightly covered in refrigerator up to one week.