Preheat oven to 350°F (175°C). Grease two round cake pans.
In a mixing bowl, combine red velvet cake mix, eggs, vegetable oil, and water per package instructions. Divide batter into pans and bake for about 30 minutes until a toothpick comes out clean.
While cakes cool, beat softened cream cheese until smooth. Gradually mix in powdered sugar and cocoa powder.
In another bowl, whip heavy cream to stiff peaks then fold it into the cream cheese mixture until well combined.
Once cakes have cooled completely, crumble one cake layer into the bottom of a large trifle dish or individual cups. Layer half of the cheesecake mixture over it. Repeat with another layer of crumbled cake and cheesecake.
Finish with crumbled cake on top and garnish with chocolate shavings or sprinkles. Chill for at least two hours before serving.
