Preheat the oven to 350 degrees and line a cookie sheet with parchment paper, spray pam baking spray onto the parchment paper.
Using two small bowls, separate the eggs, 1 bowl for the egg whites and the second bowl for the yolks.
In a medium bowl, whisk together the flour, cocoa powder, baking powder and salt.
Using a large bowl, beat together the egg yolks, sugar, canola oil, buttermilk, white vinegar and red food coloring until combined and thick.
Using another medium bowl, beat the egg yolks until stiff peaks form. Gently fold in the egg yolk mixture into the egg whites until combined. Gently fold in the dry ingredients until combined.
Pour the batter onto the cookie sheet and spread evenly. Bake in the oven for 12-14 minutes or until the cake springs back when touched.
While cake is baking, lay out a clean kitchen town and sprinkle with powdered sugar. Once cake is removed from oven, flip the cake over onto the clean kitchen towel.
Remove the parchment paper from the cake. Carefully roll the cake up into a log with the kitchen towel.
Place onto a wire rack and allow to cool completely. While the cake is cooling, make the filling.
Using a hand mixer, beat the cream cheese, butter, vanilla and powdered sugar until combined and creamy.
Unroll the cake and remove the towel. Evenly spread the filling onto the cake. Roll the cake back up carefully and wrap in plastic wrap and place in the fridge.