Begin by creating the cake base, which starts with a simple choux pastry. Combine 1 cup of cold water, 1/2 cup of butter, and 1 cup of flour in a pot over medium heat, stirring until the mixture comes to a boil. Remove from heat and stir until the mixture forms a ball.
Add 4 eggs one at a time, stirring by hand after each addition until fully incorporated. Spread this mixture evenly onto a greased or sprayed 8 x 12 inch pan and bake at 400°F for 20-25 minutes until the crust is golden brown. Allow the crust to cool completely before proceeding to the next layer.
While the crust cools, prepare the pudding filling by combining 1 (6 ounce) package of chocolate pudding mix with 2 1/2 cups of milk and 8 ounces of softened cream cheese. Use an electric mixer to blend these ingredients thoroughly until smooth and well combined. Once the crust has cooled, spread the pudding mixture evenly over the top.
The final step is to add the finishing touches that give this dessert its elegant appearance. Cover the pudding layer with whipped cream or Cool Whip, spreading it to create an even layer across the top. Finish by sprinkling chocolate shavings over the whipped cream topping—semi-sweet chocolate works particularly well for this purpose. Cut the cake into squares and serve, storing any leftovers in the refrigerator.