Preheat the oven to 375 and Line 17x11x1 pan (or 15x10x1) with parchment paper and spray with cooking oil spray.
Beat eggs with electric mixer on high speed for 3-5 minutes until thick and light yellow.
Slowly beat in granulated sugar.
Lower the speed to low and add water and vanilla extract.
Still on low, slowly add flour, 1/4 cup cocoa, the baking powder and salt. Beat just until batter is smooth.
Pour into pan and spread evenly. Bake for 7-8 minutes (12 -14 minutes if using a smaller pan) and do a toothpick test. Run a spatula around edge of pan to loosen cake.
Generously sprinkle a towel with cocoa. Turn the cake upside down onto the towel. Carefully remove the parchment paper. Trim off crusty edges of cake if necessary.
While the cake is still hot, carefully roll cake with the towel from narrow end.
Cool on cooling rack at least 30 minutes.
While the cake is cooling, make the frosting: Beat the cream cheese and butter on medium-high speed for about 5 minutes, until light and fluffy. Lower the speed to low and slowly add powdered sugar and cocoa powder. Mix until just combined. Scrape the sides and bottom of the bowl, mix on medium until all smooth. Fold in the mini chocolate morsels.
Unroll cake carefully. Carefully, spread the chocolate filling all over the cake.
Carefully roll the cake back up and place the cake of the serving with seam down.
Cover and refrigerate until ready to serve! Pull the cake out of the refrigerator about an hour before serving so the frosting softens.