OK, so, I have this wedding cake tomorrow and two of the tiers are red velvet. I made Toba's Cream Cheese Buttercream (which I have made before), and I was crumb coating last night and I couldn't believe how soft it was. I started freaking out worrying about putting fondant on. In the middle of the night I had an epiphony, I used crisco (no trans fats) Yuk! It S***s. So, I went to the store this morning and bought me some good ol' shortening with transfats and I am going to make some Crusting Cream Cheese from this site and put on top. Do you think it will be ok??? Will the cake be ok to set out overnight with cream cheese icing? I am using Fondx fondant, can it be refrigerated?? Help???????
Cream cheese frosting by nature is much softer than regular buttercream. It does need to be refrigerated -- it should not be left out.
The Fondx will be fine in the fridge.
You will want to chill the cake thoroughly before attempting to put fondant on it, because the frosting IS very soft. Don't expect very sharp edges when you're covering, they have a tendency to round off. If you work quickly, you'll be fine.
I agree that it should be refridgerated. However, I live in south Florida and 2 weeks ago I brought in a cake to work with cream cheese icing. It sat out for 2 days (without my knowledge), but everyone adored it and thankfully no problems.
Check out Earlenes Cream Cheese Buttercream recipe and her notes, I think you will be pleased. 
http://earlenescakes.com/icings.htm
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