Preheat oven to 350 degrees F. Generously grease a 10-inch nonstick fluted tube pan. Sprinkle 1/2 cup toasted coconut in bottom of pan. Combine sugar, and cocoa powder.
With kitchen scissors, cut each biscuit into 2 pieces. Using your hands, flatten each piece into a 3-inch round of dough. Place a chocolate covered caramel, in the center of each round. Bring the edge of the dough up and around the caramel to form a ball. Pinch the edges of the dough together to seal firmly.
Dip each ball into the melted butter, then roll it in the sugar mixture. Layer coated balls in the prepared pan. Drizzle with any remaining butter; sprinkle with any remaining sugar mixture.
Stir together ice cream topping and vanilla; drizzle over rolls. Sprinkle with the remaining 1/4 cup coconut.
Bake 40 to 45 minutes or until a toothpick comes out clean (If needed, cover bread with foil the last 15 minutes of baking to prevent overbrowning.) Cool bread in pan for 5 minutes. Run a small rubber spatula around edge of the bread to loosen. Invert pan onto a platter; remove pan. Spoon any topping and coconut that remain in pan on bread. Cool slightly. Serve warm.