Cypress here, that I've cut does have a pine/medicine smell when it is fresh. The stuff will also sour if it was green wet when bagged up.
I have used bagged mulch many times and none of what I used said it was treated in any way.
That doesn't mean there aren't some types that have been, but since they want to
sell a lot of product it would not be in their best sales numbers interest to treat any mulch.