PREHEAT oven to 350° F. Coat two 8-inch cake pans with nonfat cooking spray. Dust with flour.
COMBINE flour, cocoa powder, baking soda, and baking powder in a medium bowl. Beat butter in large mixer bowl at medium speed until creamy. Gradually add SPLENDA® Sugar Blend for Baking; beat well. Add eggs, one at a time, mixing well after each addition. Add vanilla extract; mix until blended.
COMBINE water and milk in medium bowl.
ADD 1/2 of the flour mixture and mix at low speed until well blended. Add water and milk; mix at low speed until well blended. Add remaining flour mixture and beat at medium speed of an electric mixer until smooth. Spoon batter evenly into prepared pans.
BAKE for 35 to 40 minutes or until a toothpick inserted in center comes out clean. Cool in pans on wire racks for 10 minutes; remove to wire racks to cool completely.
SPREAD reduced-fat whipped topping between layers and on top and sides of cake. Sprinkle with decorative candies, if desired.
Recipe courtesy of SPLENDA®.