I've only ever heard the pleased meaning.
The OED says chuffed is originally military slang, and has both meanings. The "pleased, satisfied" meaning has four quotations from 1957 to 1967, whilst the "displeased, disgruntled" meaning has two, in 1960 and 1964. One is from David Storey's This Sporting Life and the other is from Celia Dale's Other people.
Norman W. Schur's British English A to Zed (2001) says:
Slang. This curious bit of antiquated army slang has two diametrically opposite meanings, depending on the context. One can say chuffed pink (tickled pink) to mean 'pleased' or dead chuffed to mean 'displeased.' In the second sense,chuffed is synonymous with choked.
The New Partridge Dictionary of Slang and Unconventional English (2008) says:
chuffed adjective 1 pleased, delighted; flattered; very excited. Originally northern English dialect meaning ‘proud’, adopted by military, then wider society. The current, more generalised usage was possibly spread by jazz fans. Embellishments include ‘chuffed to fuck’; ‘chuffed to arseholes’; ‘chuffed to buggery’; ‘chuffed pink’; ‘chuffed to little mint-balls’; ‘bo-chuffed’; ‘chuffed to little naffy breaks’; ‘chuffed to naffy breaks’ and ‘chuffed to oil-bumps’. Often qualified by intensifiers DEAD, REAL, WELL, etc UK, 1957.
2 displeased, disgruntled. Qualifiers and context may be required to distinguish usage from the previous sense as ‘pleased’. Variants include ‘dischuffed’ and ‘dead chuffed’ UK, 1961