Prepare the cake mix according to package directions except substitute 1 cup of the coconut milk for 1 cup of the liquid in the cake and decrease the oil by 2 tablespoons. Use any suggested pan size and bake according to package directions. Cool in pan on a wire rack. Line trays or baking pans with parchment or waxed paper; set aside.
In a very large mixing bowl beat cream cheese with an electric mixer until smooth. Gradually beat in remaining coconut milk until smooth. Stir in the 1 cup coconut. Remove cake from pan and crumble into the cream cheese mixture. Beat until combined. Using a small cookie scoop, drop mixture into 1-inch mounds onto prepared pans; freeze for 30 minutes. Roll mounds into balls. Freeze for 30 to 60 minutes more or until balls are firm.
In a medium saucepan heat chocolate and shortening over medium-low heat until melted and smooth, stirring occasionally. Remove from heat. Working in batches, dip balls into melted chocolate; allow excess to drip off and place balls on clean waxed paper-lined trays or baking pans. Immediately sprinkle tops of balls with coconut before chocolate is set. Let stand until chocolate is set. If chocolate in saucepan begins to set up, reheat over low heat. To store, layer cake balls between waxed paper in an airtight container. Cover and seal. Store at room temperature for up to 3 days, in the refrigerator for up to 1 week, or freeze for up to 1 month.