Grease two bread pans; set aside. In a large bowl beat together cake mix, water, chocolate syrup, applesauce, and eggs. Stir in chocolate chips.
Pour half the batter into one pan then the other. Put both pans on a cookie sheet and place on center rack. Bake for 35-40 minutes or until a knife inserted in the center comes out clean. Let cool in pan for 15 minutes before removing to cooling rack. Put a cup of powdered sugar in a small collander and sprinkle over both loaves.