In a Dutch oven, cook bacon over medium-high heat until crisp. Transfer to a paper-towel-lined plate;set aside.
Sweat the onions, bell pepper, jalapeno and garlic in the bacon drippings (or 2 tablespoons of olive oil) until the onion begins to soften, about 5 minutes.
Stir in the tomato paste, chili powder, cumin, oregano, and coriander; cook, stirring constantly for 1 minute. Add tomatoes, V-8, water and lentils. Bring to a boil, reduce heat to medium-low, and simmer, partially covered, until the lentils are tender, about 45 minutes.
Stir in chocolate until it melts, 2-3 minutes. Add the lime juice and bacon. Season with salt and pepper to taste.