Place chocolate in large heatproof bowl. Set aside. Bring cream just to boil in small saucepan on medium heat. Pour over chocolate in bowl. Let stand 2 minutes. Stir until chocolate is melted. Add orange extract and orange peel; stir until well blended.
Refrigerate 1 hour or until truffle mixture is firm enough to handle.
Shape truffle mixture into 1-inch balls with a small (1-inch) cookie scoop or melon baller. Place on wax paper-lined tray. Roll truffles into round balls with hands. (If truffle mixture softens, return to refrigerator for 15 to 20 minutes or until firm.) Roll balls in cocoa powder. Store truffles in airtight container in refrigerator.