1. Heat waffle iron. Spray with cooking spray.
2. Combine pancake & waffle mix, unsweetened cocoa and sugar in a large bowl. Stir in water and oil with wire wisk just until large lumps disappear.
3. Stir in walnuts and chocolate chips. Let sit for 5 minutes.
4. Pour desired amount of batter into well greased waffle iron. Bake until steaming stops. Serve immediately.