If Cosimo made that sculpture with the intent to insult Christ, he failed miserably. I've seen a complete image/video of the sculpture on MSNBC.com and it's the most sympathy invoking piece of art ever (even more than the various Pietas). I almost started to tear-up viewing it. It captures the shame and suffering of a death by crucifixion amazingly.
Jeez, I meant "evoking" not "invoking".
I'll have to agree to a certain extent - I've seen far more insulting things than this. It is a bit demeaning to make it out of chocolate and give it the trivial name "My Sweet Lord", though.