2
Grate half the chocolate; reserve for later use.
3
Beat cream cheese and butter in large bowl with mixer until creamy. Add dry pudding mix; beat 2 min. Add sugar; beat until light and fluffy. Add eggs, 1 at a time, mixing well after each addition. Gradually beat in flour. Add 1/4 cup coconut; beat on low speed just until blended.
4
Pour half the batter into greased and floured 12-cup fluted tube pan or 10-inch tube pan; top with reserved grated chocolate. Cover with remaining cake batter.
5
Bake 1 hour or until toothpick inserted near center comes out clean. Cool cake in pan 10 min. Loosen cake from sides of pan with knife; invert onto wire rack. Gently remove pan. Cool cake completely.
6
Microwave COOL WHIP and remaining chocolate in microwaveable bowl on HIGH 1-1/2 to 2 min. or until chocolate is completely melted and mixture is well blended, stirring after each minute. Drizzle over cake. Sprinkle with remaining coconut.