Place the finely chopped white chocolate in a medium heat-proof glass bowl.

In a small saucepan over medium heat, combine the heavy cream and butter. Heat until the mixture just begins to simmer, then immediately remove from heat.

Pour the hot cream mixture over the chopped white chocolate. Let it sit undisturbed for 2 minutes to allow the chocolate to melt.

Gently whisk the mixture starting from the center and moving outward until the ganache is completely smooth.

Stir in the orange zest, orange extract, and orange food coloring until the color is uniform.

Press a piece of plastic wrap directly onto the surface of the ganache to prevent a skin from forming. Refrigerate for at least 2 hours or until the mixture is firm enough to handle.

Using a small cookie scoop or tablespoon, portion the ganache into 1-inch balls. Roll briefly between your palms to smooth the surface.

Toss each truffle in a bowl of sifted powdered sugar until fully coated. Place on a parchment-lined tray and chill for an additional 15 minutes before serving.