I've been eating today's Twizzler's Chocolate Twists (AKA Chocolate Licorice) and its predecessor products for almost my entire life. This extruded candy, which contains no licorice extract, seems to be constantly reformulated not only by Y&S Candies/Hershey, but by all the other manufacturers. The earliest form of chocolate Twizzlers I ate was as a penny candy. Back then the company was known as The National Licorice Company. They had a reinforced concrete plant at 401 Myrtle Avenue, under the El, in Brooklyn. The chocolate flavor was sold as sticks about 6 inches long in the exact shape of Romex cable, and not as Twists as made today. They had a rich. chocolate flavor.
As penny candy started dying out, bags of National's chocolate licorice became available as twists in supermarkets. But, the formula had changed. The name on the bag changed to Y&S Candies, with an address in New Jersey. It was a candy that was not available in overseas military exchanges. When I got out of the service, I didn't realize how much I missed it (along with packaged, sliced white bread like Silvercup.) I went on a eating binge for a short time. But everytime you heard about the price of cocoa or sugar or some other commodity increase, the formula of the Twizzlers changed. I once bought a batch that had its formula changed so quickly that the wrappers had a "censored" box covering one of the items in the ingredients list that had been in the candy previously.
Back in the 80's, candy outlet stores in Pennsylvania had an even better brand of chocolate licorice, but that brand eventually disappeared. Other brands of chocolate licorice sold today don't have that rich, chocolate taste anymore, either. There is one brand sold that is translucent. I don't think there is any solid cocoa/chocolate in that brand at all.
What I would like to see is the return of rich-tasting chocolate licorice.