Combine creamed chipped beef, 1 1/2 cups cheddar cheese, water chestnuts, green onion, Worcestershire sauce, onion powder, pepper sauce and salt in large bowl.
Slice bread three times vertically and approximately every 1 1/2-inches horizontally to within 1/4-inch of bottom crust. Bread will have a 'checkerboard' appearance.
Stuff all cuts in bread with creamed chipped beef mixture.
Wrap bread in aluminum foil, keeping top exposed. Sprinkle remaining cheese on top of stuffed bread.
Bake in preheated 400° F oven for 35 to 40 minutes or until bread is browned and crispy.
*Defrost Creamed Chipped Beef in microwave on 50% power for 5 to 6 minutes.
Servings: 10 to 12