1. Heat oven to 350°F. Line 30 muffin cups (2-1/2 inches in diameter) with paper or foil bake cups. Remove wrappers from 15 KISSES and 15 HUGS.
2. Beat butter, shortening and sugar in large bowl until fluffy. Add eggs and vanilla; beat well. Stir together flour, cocoa, baking soda and salt; add alternately with water to butter mixture, beating until well blended. Fill muffin cups 1/2 full with batter. Place 1 KISS or 1 HUG on surface of each cup; do not press candy into batter.
3. Bake 20 to 23 minutes or until tops spring back when touched lightly. Cool completely in pan on wire rack.
4. Remove wrappers from remaining candies; set aside. Stir several drops red food coloring into frosting for desired shade of pink frosting. Frost cupcakes. Top each cupcake with 1 KISS and 1 HUG. 30 cupcakes.