Combine the Oreo baking crumbs and melted butter until moistened and crumbly.
Press the mixture into the bottom of a 9-inch springform pan and refrigerate to set.
Combine the cream cheese and powdered sugar in a large bowl, mixing with a hand mixer on medium speed (or in your stand mixer) until smooth.
Add the red food colouring paste and mix well until incorporated, scraping down the sides of the bowl to ensure everything is incorporated and the colour is distributed evenly.
Add the melted white and semi sweet chocolate in a steady stream while the mixer is running on low speed, until completely incorporated. Scrape down the sides of the bowl to be sure everything is incorporated.
Fold in the whipped cream or whipped topping by hand until the mixture is fluffy and creamy and there are no streaks of white in the batter.
Pour the cheesecake mixture into the prepared crust and smooth out the top with a rubber spatula or offset spatula.
Refrigerate to set for 6 hours or overnight, or set in the fridge for 2-3 hours and then in the freezer for 2-3 hours before serving. OR, set in the freezer only for 3-4 hours.
Top with whipped cream or whipped topping and some Oreo crumbs for garnish (optional).
Make this cheesecake up to 2 days ahead of serving. Simply store in the fridge in an airtight container.