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Divide butter between 2 heavy large skillets and melt over medium-high heat. Divide shallots between skillets; sauté until beginning to soften, about 5 minutes. Divide mushrooms between skillets. Sprinkle with salt and pepper.
Sauté until almost tender, about 8 minutes. Divide Marsala between skillets; stir until evaporated, about 1 minute. Pour 1 cup cream into each skillet and ½ of the roasted garlic pulp in each skillet and 1 teaspoon porcini powder per skillet (if using); cook until sauce thickens, stirring occasionally, about 3-4 minutes.
Season with salt, pepper, thyme and hot sherry sauce or Tabasco (if using). Combine mushrooms in 1 skillet. (Can be made 1 day ahead. Cool slightly. Cover; chill. Before serving, rewarm over medium heat, thinning with more cream if necessary.)
Preheat oven to 350°F. Place bread slices on baking sheets. Brush with black truffle olive oil (or butter if you prefer); sprinkle with pepper. Bake until beginning to brown, about 15 minutes. Stir parsley into mushroom mixture; transfer to chafing dish. Serve with toasts.
If you have any leftovers, puree them with beef or vegetable broth for what may be the best cream of mushroom soup you’ll ever taste…