Combine 2 cups water and smoked turkey in a large pot. Bring to a simmer over medium heat.
Meanwhile, saute the bacon in a small skillet until browned and crisp. Remove bacon and save in a bowl, but do not drain fat. Add onions to bacon fat in pan and cook until tender, 12-14 minutes. Add onions and bacon to the pot with turkey and simmer, covered, for 45 minutes. Add the chicken flavoring, sugar, black pepper and collard greens. Stir until greens are wilted. Cover and continue cooking an additional 10-12 minutes, until greens are tender.