Step 1: Bring a large pot of lightly salted water to a boil. Add pasta and cook for 8 to 10 minutes or until al dente; drain.
Step 2: Meanwhile, melt butter together with the olive oil in a saucepan over medium heat. Stir in onion, and cook until softened and translucent, about 2 minutes. Stir in garlic, red bell pepper, and mushrooms; cook over medium-high heat until soft, about 2 minutes more.
Step 3: Stir in the shrimp, and cook until firm and pink. Pour in Alfredo sauce, Parmesan cheese, and whipping cream; bring to a simmer stirring constantly until thickened, about 5 minutes. Season with cayenne, salt, and pepper to taste. Stir drained pasta into the sauce, and serve sprinkled with chopped parsley.
Step 4: Serve more Parmesan at the table.
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