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PREPARE cake batter and bake as directed on package for 24 cupcakes, adding dry drink mix and 1/2 cup chocolate chips to batter before spooning into prepared muffin cups.
COOL cupcakes in pans 10 min.; remove from pans to wire racks. Cool completely.
REMOVE cupcakes from liners. Stir food coloring into frosting; spread onto cupcakes. Sprinkle with remaining chocolate chips.