What's the ingredient list say? Some stabilizers and such can do that, if they aren't mixed properly.
I don't do it for a living, but I have family that run dairy. One of the things used for consistency and texture is carageenen (spelling?). It kinda looks like that when it's saturated. It's a moss or algae extract iirc (too lazy to look it up, but it's something like that, carageen is the original plant).
So, that would be my best guess, and if that's in the ingredients, that's almost certainly what it is.
Is it oily? I wonder if it's a big clump of one of the ingredients that somehow ended up in the finished product? Like when you get a big greasy boulder of cheese powder at the bottom of the Cheeto bag sometimes?
My guess is that it's some kind of fatty binder that's supposed to be mixed in. Like some kind of grease or wax or something that's supposed to thicken the dip. I am by no means an expert though.
It actually probably does contain truffles but probably just summer black truffles. Not all truffles were created equal and a fee varieties are extremely affordable.