In large bowl (a stand mixer works best) sprinkle gelatin over 1/2 cup of the water. Let bloom. 

In medium-sized saucepan, combine remaining water with honey. Heat over medium until boiling. Boil honey, stirring regularly, until it reaches 240°, or soft ball stage. It takes about 10 minutes.

Let honey mixture cool for a minute, then sift in 1/2 cup of cocoa powder, extracts, and salt. Mix until cocoa powder is melted in.

While the marshmallow is fluffing, grease a 9x9 inch baking dish and line it with parchment paper. Then combine the remaining cocoa with the arrowroot (or just use the remaining cocoa) and dust the parchment with a few teaspoons.

When the fluff is done, pour into the prepared pan, spreading as even as possible with a wet spatula.

Let set on the counter for about 8 hours (I usually do overnight).

Dust the top of the marshmallows with the leftover cocoa powder, and remove from the pan by pulling up on the parchment. Using a sharp knife, slice the marshmallows into squares. Alternately, you can use cookie cutters, if you want. Dust the knife with the cocoa in between slices, so the knife doesn't get too sticky and tear the marshmallows.

Store in the fridge in a covered container.