Cover a large baking pan with waxed paper.
Place semisweet and white chocolate chips in a medium glass bowl; microwave 45 seconds on HIGH. Stir, and microwave an additional 45 seconds or until almost melted. Be careful not to burn. Stir until smooth. Add cereal and remaining ingredients; stir quickly to combine well. Drop mixture by spoonfuls onto prepared baking sheet; chill 1 hour or until firm. Yields 42 cookies. (from Cooking Light, December 2007)