Preheat oven to 400°F.
In a large saucepan cook the pasta according to package directions; drain reserving 1 cup of pasta water.
While the pasta is cooking melt 2 tablespoons of butter over medium heat in a large skillet. Sauté shallots and thyme for 3 to 5 minutes or until tender. Sprinkle in flour and cook, stirring, for 2 to 3 minutes but not allowing the flour to burn.
Slowly whisk in milk and bring to a boil while continuing to whisk. Reduce heat to medium-low and cook, stirring constantly, for 6 to 7 minutes or until thickened slightly.
Stir in cream, mustard, cayenne pepper, nutmeg, salt, and pepper, and bring the sauce back to a boil. Remove sauce from heat and stir in Gruyère and cheddar cheese until melted.
Stir in lobster and truffle oil then slowly add in the pasta and pasta water ¼ cup at a time. Transfer to a greased casserole dish.
In a small bowl, toss together panko, Parmigiano Reggiano, and the remaining 2 tablespoons of melted butter; sprinkle over pasta.
Bake for 15 to 20 minutes or until golden and bubbling.
Allow it to rest for 5 minutes. Top with chopped chives, parsley, or scallions, and serve.