In small bowl, combine 1-1/4 teaspoons of the espresso powder and 1 teaspoon hot water, stirring to dissolve powder. Stir in fudge topping. Set aside.
In bowl, stir cream cheese, then gradually add milk, stirring well after each addition until smooth. Whisk in vanilla pudding mix until combined. (Mixture will be thick and may look slightly curdled.) Remove 1/2 cup cream cheese mixture; stir into hot fudge mixture. Set aside.
Whisk 1 cup of the whipped topping into the cream cheese mixture, stirring until combined. Spread about 1/3 of the mixture over the bottom of shell. Spoon half of hot fudge mixture over the filling in 4 large dollops. Spoon on remaining cream cheese mixture, gently spreading over pie. Make 4 or 5 shallow indentations in filling. Spoon remaining hot fudge mixture into indentations. Insert tip of a table knife straight down into filling. Draw knife through filling to create swirl. If needed, cover pie with plastic wrap and press to smooth surface. Discard wrap.
In small cup, dissolve remaining 1/2 teaspoon espresso powder in 1/2 teaspoon hot water. Stir into remaining whipped topping. Pipe or dollop some of the topping around pie. Refrigerate pie 4 to 6 hours. Serve with remaining topping. Makes 8 servings.