From my testing, it seems that charged Puncture doesn’t consume black arrows. Additionally, it doesn’t seem to receive damage buffs as a result. If the node to make puncture charged is not taken, it consumes black arrows with each use as expected, but once the node is taken, they are no longer consumed.
The puncture node to shorten the length of the charge does work when you have at least one black arrow.
Back in the day, charged Puncture would consume a Black Arrow when the button was pressed to start the charge, thus wasting it (because damage is calculated when the charge ends by which time the Black Arrow has been consumed). Has this behaviour changed?
From the testing I did, it doesn’t seem to consume them at all anymore. Whether you just click or hold for the whole puncture charged, it doesn’t consume at the beginning or end.
I did a quick test myself. Charged Puncture seems to be bugged, as I found that the blind and bleed effects aren’t working. I tried the same thing with Charged Detonating Arrow and the Dark Quiver node—where DA gains more area—and that node works with Black Arrows.
As Llama mentioned, i’m also sure Charged Puncture used to work back then, but i stayed away from both DA and Puncture for a long time since the whole animation was bugged and locked you in place compared to Channel Flurry.