Preheat oven to 350° with rack in center. Line bottom of 9-inch round or square cake pan with parchment paper cut to fit, and spray sides and bottom with nonstick cooking spray. If making tall cupcakes, line standard muffin pan with jumbo cupcake liners and spray cupcake liners. Set aside.
Sift Baking & Pancake Mix with cocoa powder into a small bowl; set aside.
Separate eggs whites from yolks, setting aside yolks and putting whites into a clean, medium bowl. Whip egg whites until stiff; set aside.
In a separate large bowl, mix oil with salt and sugar. Add Baking & Pancake Mix and cocoa powder, and blend until well combined. Mixture will be mealy looking. Mix vanilla into buttermilk, then pour half the buttermilk into the flour mixture and beat until combined. Mix egg yolks into remaining buttermilk and then pour into batter; mix for one minute at medium speed. Add food coloring and vinegar and mix until batter is evenly red. Stir up the bottom to mix in any dry flour. Rewhip egg whites if starting to separate, then gently fold them into batter, until well blended.
Pour batter into prepared cake pan or fill jumbo liners up to the top of the metal cups of the muffin pan. Bake until center springs back when touched and toothpick comes out clean, 33 to 37 minutes for cake, or 18 to 22 minutes for cupcakes. Do not overbake.
Cool pans on rack. Let cool 15 to 20 minutes before removing from pan. To remove cake from pan, first run a knife around the edge, then turn out cake onto a serving plate, and peel parchment paper off bottom. Do not frost until completely cool. Frost with Cream Cheese Frosting for a traditional taste.
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