Cover a large baking sheet with wax paper.
Place semisweet and white chocolate chips in a medium glass bowl; microwave at HIGH 45 seconds. Stir, and microwave an additional 45 seconds or until almost melted. Stir until smooth. Add cereal and remaining ingredients; stir quickly to combine. Drop mixture by tablespoonfuls onto prepared baking sheet; chill 1 hour or until firm.
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