Chocolate malt is not the same as chocolate powder. If we roast the barley enough, its SRM/EBC/Loviblond will increase. Essentially it means that it will start giving dark brown color to your beer wort rather than the traditional golden colors. This is achieved by a high temperature longer kilning to increase the EBC to 500-1000. During this transformation, the flavors become more caramel-like. This makes them ideal for dark porters, chocolate stout, and other dark beers. Usually, chocolate malt is made from barley but lately, dark roasted chocolate wheat malt is also available.
One should not confuse chocolate malt with black malt. Black malt has an EBC of 1200+ and a overwhelming smokey flavors. Black malt is useful for Guinness style beers (black porters)