In a large mixing bowl, combine the vanilla wafer crumbs, softened cream cheese, powdered sugar, orange juice, orange zest, and vanilla extract. Mix until well combined and smooth.
Refrigerate the mixture for about 30 minutes to make it easier to handle.
Once chilled, use a small cookie scoop or your hands to form the mixture into small balls, about 1 inch in diameter. Place the truffles on a baking sheet lined with parchment paper.
In a microwave-safe bowl, combine the white chocolate chips and coconut oil. Microwave in 30-second intervals, stirring in between, until melted and smooth.
Dip each truffle into the melted white chocolate, allowing any excess to drip off. Return the truffles to the parchment-lined baking sheet.
While the chocolate is still wet, dust the truffles with extra powdered sugar for a decorative touch.
Refrigerate the truffles for at least 1 hour to set the chocolate before serving.