Preheat oven to 450*F. Remove stems, seeds, and veins from pepper. In a medium-size saucepan, bring a large amount of water to a boil. Add peppers and cook, uncovered, for 3 minutes. Drain peppers and invert onto paper towels. Cut the 4 ounces Colby-Monterey Jack cheese into pieces to fit inside pepper pieces. Place cheese inside pepper pieces. Arrange pepper pieces in a lightly greased 11"x7"x2" baking dish.
In a medium-size bowl, whisk together the eggs, egg whites, and milk. Whish in the flour, cilantro, baking powder, salt, and cayenne. Pour egg mixture over pepper pieces.
Bake for 15 minutes or until cheese is melted and batter is puffed and golden. Sprinkle the 1/3 cup shredded Colby-Monterey Jack cheese on top. Serve with the picante sauce.