Prepare the crust by lining an 8x8-inch pan with parchment paper. Melt the unsalted butter and combine with Nilla Wafer crumbs. Press the mixture into the bottom of the pan and freeze for 30 minutes.

While the crust chills, bring 1 cup of water to a boil, remove from heat, and whisk in the orange gelatin. Add 1 cup of cold water and let cool in the refrigerator for 20 minutes.

In a mixing bowl, beat room-temperature cream cheese and powdered sugar until smooth. Gradually add orange extract and food coloring. Fold in the chilled gelatin until smooth and refrigerate for 1 hour.

In another bowl, beat cream cheese and confectioners' sugar until smooth. Fold in Cool Whip until fluffy.

Spread the cheesecake mixture on the set crust. Spoon the orange cream mixture on top carefully and spread evenly.

Cover with plastic wrap and chill for at least 6 hours or overnight before serving.