When the eggs have 5 more minutes to freeze, add the chocolate and coconut oil to a bowl and microwave in 30 second increments, stirring in between, until melted and smooth.
Separate the chocolate into small bowls or cups based on how many colors you plan to use. Mix in the powdered food colors into each bowl/cup. Opt to use a little to start, mix in, then add more as needed. Be sure to test the taste of the chocolate to ensure you don't alter the taste!
Place a piece of parchment paper over a large baking sheet, then generously spray a cooling rack with oil and place it on top.
Space out the peanut butter eggs onto the cooling rack, then pour each color evenly over each egg to completely cover it. Since the eggs are so cold, the chocolate should set quickly.
Once the chocolate is just set, carefully remove the eggs by gently pushing the edges of the eggs from the bottom until it breaks loose. And of course, keep in mind, they don't have to be perfect! If you'd like, you can always drizzle additional colors of chocolate over them to cover imperfections or just because it's pretty!
Keep refrigerated until ready to serve and enjoy right away!