BEAT eggs, oil and granulated sugar in 6-qt. bowl of mixer fitted with paddle attachment 5 min. or until lemon-colored, stopping frequently to scrape bottom and side of bowl.
COMBINE next 4 ingredients. Reserve 1/4 cup flour mixture (or 2 Tbsp. for trial recipe); gradually add remaining to egg mixture, beating after each addition until well blended. Toss carrots with reserved flour mixture; stir into batter.
POUR into 2 greased and floured 10-inch round pans (or one 10-inch round pan for trial recipe).
BAKE in 350ºF standard oven 25 to 30 min. or until toothpick inserted in center comes out clean. Cool cake in pans 10 min. Remove from pans to wire racks; cool completely.
BEAT cream cheese, butter and vanilla in 6-qt. bowl of mixer fitted with paddle attachment on medium speed until well blended, stopping frequently to scrape bottom and side of bowl. Gradually beat in powdered sugar until well blended.
CRUMBLE cake into large bowl. Add 1-1/2 qt. (or 3 cups for trial recipe) of the cream cheese frosting; mix well.
USE #40 scoop to portion cake mixture into balls; place in single layer in sheet pans. Freeze until firm.
MELT chocolate as directed on package; pour into deep narrow container. Dip cake balls, 1 at a time, in chocolate, turning to evenly coat. Gently shake off excess chocolate. Place cake balls in single layer on wire rack; let stand until chocolate is firm. Refrigerate until ready to serve.