SPRINKLE half the wafer crumbs onto side of 8- or 9-inch springform pan sprayed with cooking spray.
ADD boiling water to jelly powder in large bowl; stir 2 min. until completely dissolved. Cool 5 min. Pour into blender. Add cottage cheese and cream cheese product; blend well, stopping occasionally to scrape side of blender. Pour into large bowl.
WHISK in Cool Whip until well blended. Pour into prepared pan; smooth top with spatula. Sprinkle remaining wafer crumbs around edge. Refrigerate 4 hours or until set. Run knife around rim of pan to loosen cake; remove rim.