In a large bowl, dissolve the orange jello in boiling water. Once fully dissolved, stir in the cold water. Place in the refrigerator to chill, ensuring it doesn't solidify, about 15 minutes.
In a separate large mixing bowl, beat the softened cream cheese and sugar together until smooth and slightly fluffy.
Add the heavy cream and vanilla extract to the cream cheese mixture. Continue to beat until the mixture is combined and forms stiff peaks.
Gently fold the chilled orange jello mixture and instant vanilla pudding powder into the creamy base until well incorporated.
Stir in the mandarin oranges and mini marshmallows, ensuring even distribution.
Cover the bowl and refrigerate for a minimum of one hour.