1. Rinse the mushrooms and pat dry with paper toweling. Cut the mushrooms into thin slices or bite-size pieces.
2. Heat 1 tablespoon of the oil in skillet and add the mushrooms. Cook, stirring frequently, about 5 minutes. Add half of the butter and the shallots, sitrring to blend. Cook about 5 minutes longer and add the stock. Bring to the boil and add the fontina cheese. Let cook over relatively high heat about 5 minutes. Stir in the remaining butter and the Parmesan cheese. Stir to blend well. Add 1/4 cup of the basil and the thyme and stir.
3. Meanwhile, bring about 3 quarts of water to the boil and add salt. Add the penne and cook until al dente. Reserve about 1/4 cup of the cooking liquid. Drain the pasta immediately and return it to the pot. Add the reserved pasta liquid and remaining 1 tablespoon of olive oil and stir to blend. Transfer equal portions of the pasta onto each of 4 to 6 hot pasta plates. Spoon equal portions of the mushroom sauce onto each serving and sprinkle each serving with the remaining basil.