need homemade recipe for chocolate syrup with splenda

from Amy Dacyczyn’s The Complete Tightwad Gazette.

½ cup cocoa powder
1 cup water
2 cups sugar
⅛ teaspoon salt
¼ teaspoon vanilla

Mix the cocoa powder and the water in a saucepan. Heat and stir to dissolve the cocoa. Add the sugar, and stir to dissolve. Boil for 3 minutes over medium heat. Be careful not to let it get too hot and boil over! Add the salt and the vanilla. Let cool. Pour into a clean glass jar, and store in the refrigerator. Keeps for several months, but trust me it will be gone before then. Yields two cups.

This recipe uses sugar, but you could sub Splenda. In my experience Splenda does not caramelize like sugar, so you'd probably want to add a thickening agent such as corn starch and play around with the recipe a bit. Or for chocolate milk you could just make it up as a powder (omit the vanilla and water) and it should make a yummy chocolate milk or even hot cocoa.

So how'd it taste?