Chocolate flavour without the sediment?
LorAnn makes a consumer-grade chocolate flavoring:

http://www.lorannoils.com/1-dram-size/chocolate-flavor-0170-dram

You'd use it in a fashion similar to vanilla extract, though it's more concentrated. It's available at candy supply stores, and online. It has a very strong color, so be careful about adding it to things that you want to be white.

I use creme de cacao (basically, chocolate liqueur) for making frosting. It's quite sweet and is much less concentrated than the chocolate flavoring. (It's also a nice addition to milk, kind of a grown-up chocolate milk.) It's available at any liquor store.