MICROWAVE morsels and butter in medium, uncovered, microwave-safe bowl on HIGH (100%) power for 1 minute; STIR. Morsels may retain some of their original shape. If necessary, microwave at additional 10 to 15-second intervals, stirring just until morsels are melted. Dissolve coffee granules in hot water; stir into chocolate. Stir in vanilla extract; cool to room temperature.
WHIP cream in small mixer bowl on high speed until stiff peaks form; fold into chocolate mixture. Spoon into tall glasses; refrigerate for 1 hour or until set. Garnish as desired.