How to rephrase "cream flavoured cream"?
Makers of mass-produced dessert snacks in the United States struggled with this problem for years, a problem exacerbated in their case by the fact that the "cream-flavored cream" filling might in fact contain no cream. Their solution was to popularize terms such as "creme" and "creme-filled"—without the grave accent over the first e—and the even more heavily processed-sounding "kreme" and "kreme-filled." Dunkin' Donuts, for example, currently offers a Vanilla Kreme Filled Donut and a Boston Kreme Donut whose debt to any living cow (or kow) is unknown to me. A marketer might confidently claim that a wafer contained "cream-flavoured creme," without having to go into detail (on the front of the package, anyway) about what industrial substances made up the creme.
If you wanted to stay away from creme and kreme, the simplest way to avoid the repetition of cream in your example would be to replace the second cream with filling: "Wafers with cream-flavoured filling." In the context of a mass-produced sweet treat, U.S. readers would immediately interpret "filling" to mean "squishy or pasty (and very sugary) partially hydrogenated goo." But I don't know whether filling carries the same instantly recognizable sense outside the U.S. that it does here.
Cream has multiple meanings in cookery, and especially in baking and confectionery.
Besides being literally the thick fat that rises to the top of milk, it’s also used for other similarly-textured pastes and fillings, especially ones which were originally mostly cream-based but whose composition shifted over the years according to fashion and taste. This isn’t just modern commercial euphemism: it’s happened for centuries. For instance, violet creams are chocolates filled with a paste of sugar, cream, and violet extract, while custard creams are a biscuit whose filling consists just of sugar mixed into butter or margarine.
So two different meanings of cream are involved for your wafers: they are filled with cream [in the sense of a sugary paste] that has been flavoured with cream [in the sense of milk fat]. (Or, perhaps more likely, flavoured with synthetic cream [sense of milkfat] flavour.)
Depending on the specific filling used, a less redundant wording might be something like cream-flavoured fondant, cream-flavoured ganache, or simply cream-flavoured filling if no more specific culinary term fits the bill.