If you are giving your plants a full spectrum fertilizer you do not need to give them molasses. Molasses is a decent source of nitrogen and potash, as well as other needed micronutrients, but any decent commercial fertilizer will contain all of the needed plant minerals.
How molasses works is it provides a source of carbon for bacteria in the soil. The bacteria are able to reproduce and proliferate due to the additional source of food. They, in turn, break down the molasses into mineral forms that are utilized by the plant as food and to perform essential plant functions.
If you were choosing to grow all organically in soil, molasses would be a great way to supplement other organic fertilizers, such as properly composted plant and animal matter. If you are growing in hyrdo, molasses will be of limited, if any, benefit since you do not have the soil microbes that break the molasses down into its plant usable forms.
As to molasses improving the taste of bud, I am far from sold on that claim. Plants are not acting like a kid with a straw and slurping up sugar. The sugar is completely unusable by the plant until microbes perform their activity.