In a small bowl, mix the instant espresso powder with 1/2 cup of hot water. Stir until fully dissolved and set aside to cool.
In a large mixing bowl, beat the whipped cream cheese with 1/2 cup sugar and 1 teaspoon vanilla extract until creamy and smooth.
In another bowl, whip the heavy cream with 1/3 cup sugar until soft peaks form.
Gently fold the whipped cream into the cream cheese mixture, being careful not to deflate the cream.
Slice the Twinkies in half lengthwise. Dip each half quickly into the cooled espresso mixture and arrange a layer at the bottom of your baking dish.
Spread half of the cream mixture over the layer of Twinkies, smoothing it out evenly with a spatula.
Add another layer of dipped Twinkies on top of the cream layer, followed by the remaining cream mixture.
Cover the baking dish with plastic wrap and refrigerate for at least 4 hours, or overnight if possible. Before serving, shave the semi-sweet chocolate over the top.