01 - Preheat oven to 350°F. Grease and line an 8×8-inch baking pan with parchment paper. In a large bowl, whisk together the flour, sugar, cocoa powder, baking soda, and salt. In a separate bowl, combine the buttermilk, softened butter, eggs, vanilla extract, and red food coloring until well blended. Gradually fold the wet mixture into the dry ingredients, stirring until just smooth. Pour the batter into the prepared pan and bake for 18–20 minutes, or until a toothpick inserted in the center comes out clean. Allow the cake to cool completely in the pan.
02 - In a medium bowl, beat the softened cream cheese with powdered sugar and vanilla extract using an electric mixer until smooth and creamy. If the mixture feels too soft to handle, refrigerate for about 15 minutes to firm it up.
03 - Crumble the completely cooled red velvet cake into a large bowl. Add the cheesecake filling and mix thoroughly with your hands or a spoon until evenly combined and a pliable dough forms. Roll tablespoon-sized portions into 1-inch balls and arrange them on a parchment-lined baking sheet. Place the sheet in the freezer for at least 1 hour, or until the balls are firm to the touch.
04 - Melt the chopped chocolate or melting wafers in a microwave-safe bowl in 20-second intervals, stirring between each burst until completely smooth and glossy. Using a fork or dipping tool, submerge each frozen ball into the melted chocolate, turning to coat evenly. Lift out, gently tap off excess chocolate, and return to the parchment-lined sheet. Immediately top with sprinkles before the shell sets, if desired.
05 - Let the coated balls rest at room temperature until the chocolate hardens, or refrigerate briefly to speed up setting. Serve chilled or at room temperature.