More specifically, I want to cover a wonder mold dress cake with modeling chocolate swags. So I will cut the rectangular pieces of modeling chocolate and make swags out of them, and then attach them to a ganached cake made from the wonder mold dress pan.
I was concerned about the heaviness of the chocolate, and the taste. I was planning to use colored candy melts to make the correct color needed for the cake.
Yes you can. There is a well known cake designer although his name escapes me at the moment, that covers all of his cakes with modeling chocolate.
You can cover a cake in modeling chocolate. As far as the swags go, you should be fine. And for the taste I much prefer the taste over fondant!!!