Heat waffle maker with 8-inch-square cooking surface on Medium-High heat setting.
In medium bowl, mix both cheeses, basil and oregano; set aside.
In 1 1/2-quart saucepan, heat pizza sauce over low heat, stirring occasionally, until hot. Place in small serving bowl.
Unroll both cans of dough onto work surface. Separate each crosswise, making four (7-by-6-inch) rectangles; firmly press perforations to seal.
Place 1 dough rectangle on bottom surface of heated waffle maker, being careful not to open up perforations. Quickly sprinkle 1 cup cheese mixture evenly on top of dough. Place half the slices of pepperoni evenly over cheese mixture. Top with another dough rectangle; close waffle maker. Bake 2 to 3 minutes or until sandwich is golden brown.
With pancake turner, remove from waffle maker; place on cutting board. Cool 30 seconds before cutting.
Cut into square sandwiches or triangular snacks.
Repeat with remaining dough, cheese mixture and pepperoni.