What you are asking for, if I understand correctly, is not really possible without having an extensive dictionary available. The code you supplied will trigger true if someone types in anything (in the first word) with either 1 a, e, h, l ot t -or- 2 c's or 2 o's. Here's something that will see if enough letters were used to make the word "chocolate". I hope this gives you a better start to what you are looking for...

Code:
on *:text:*:#: {
  var %word = chocolate, %char
  while (%word) {
    %char = $left(%word,1)
    if ($count(%word, %char) > $count($1-, %char)) { return }
    %word = $remove(%word,%char)
  }
  msg $chan Found word!
}

Untested but see if that works better... cool