Make the cupcakes: Mix the wet ingredients, mix the dry ingredients, mix together and bake for 15-18 minutes at 325 degrees. These are best if you under bake them slightly (since there's not very much oil in the recipe).
Make the frosting: Melt the baking chocolate in the microwave (careful not to burn it). Let it cool slightly. In a food processor mix all ingredients together. Taste and adjust. Let chill in the fridge for at least 15 or so minutes.