Heat oven to 350°F. Generously grease 48 mini muffin cups with shortening or cooking spray; lightly flour cups.
In large bowl, stir together cake mix, water, butter and eggs until smooth. Spoon batter evenly into muffin cups.
Bake 8 to 10 minutes or just until cupcakes spring back when touched lightly in center. Cool completely, at least 15 minutes. Remove from muffin cups to cooling rack.
Using sharp knife, cut top off of each cupcake. Spoon 1 teaspoon pudding onto center of bottom half of each cupcake. Cover with top halves of cupcakes.
In small microwavable bowl, microwave chocolate chips and whipping cream uncovered on High 30 to 60 seconds or until chips are melted and mixture can be stirred smooth. Spoon chocolate mixture on top of each cupcake. Let stand until chocolate is set before serving. Store in refrigerator.