With a mixer, blend cookie powder, cream cheese and vanilla extract until thoroughly mixed (there should be no white traces of cream cheese).
Roll into small balls and place on wax-lined cookie sheet.
Refrigerate for 45 minutes.
Line two cookie sheets with wax paper.
In double-boiler, melt chocolate chips.
Dip balls and coat thoroughly.
With slotted spoon, lift balls out of chocolate and let excess chocolate drip off.
Place on wax-paper-lined cookie sheet.
Store in airtight container, in refrigerator.