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HEAT oven to 350ºF.
PREPARE cake batter and bake as directed on package for 24 cupcakes; cool completely.
MEANWHILE, whisk cream cheese in medium bowl until creamy. Beat pudding mix and milk in separate bowl with whisk 2 min. Gradually add to cream cheese, mixing well after each addition. Stir in COOL WHIP. Refrigerate until ready to use.
CUT 12 strawberries in half; slice remaining strawberries. Use serrated knife to cut tops off cupcakes. Spread 1 Tbsp. pudding mixture onto bottom portion of each cupcake. Cover with sliced strawberries, cupcake tops and remaining pudding mixture.
GARNISH with strawberry halves and sifted powdered sugar just before serving.