In a medium-sized bowl, mix the cream cheese, sugar or sweetener, and vanilla bean paste until smooth. Set aside.
In a large mixing bowl, whisk together the eggs, buttermilk, sugar or sweetener, vanilla extract, cocoa powder, and red food coloring until well combined.
Cut the bread slices in half to make 16 halves.
Heat a skillet or griddle over medium heat. Dip each bread half into the egg mixture, coating both sides. Allow excess to drip off before placing on the skillet.
Cook the dipped bread for about 2-3 minutes on each side, until golden brown. Repeat until all pieces are cooked.
Assemble the toast by adding a dollop of cream cheese filling between two pieces of French toast. Repeat for all pieces.
Serve warm, garnished with fresh raspberries and a drizzle of maple syrup or a dusting of powdered sugar if desired.