So, I've made a discovery. As you know, CF likes to generate a little bit of white space. It's not a horrible thing - just something you have to be aware of. One of the easiest ways to take care of white space in CF is to use cfsetting enablecfoutputonly=true. This means you need to use cfoutput to generate any and all output, even output w/o data. But it isn't a huge deal and it does cut down on your white space.
Now, here comes the fun part. For some reason, CFCHART doesn't use (internally) cfoutput to generate it's charts. Unlike the other tags that output, like CFTABLE, CFFORM, etc, CFCHART must either NOT be under the influence of cfsetting, or wrapped in cfoutput tags. A definite bug I'd say.
Edited: So, get this. I found this exact same bug... 2 years ago. And I entered it two years ago. And I just forgot. -sigh- I must be getting old.