Preheat the oven to 375°F (190°C).

Line a jelly roll pan with parchment paper and spray lightly with non-stick spray.

In a large bowl, beat the eggs and sugar together until light and fluffy.

Mix in the vegetable oil and vanilla extract until well combined.

In another bowl, whisk together the flour, cocoa powder, baking powder, and salt.

Gradually add the dry ingredients to the wet mixture, mixing until just combined.

Stir in the red food coloring until the batter is uniformly colored.

Pour the batter into the prepared pan and spread evenly.

Bake for 12 to 15 minutes, or until the cake springs back when touched.

Roll the cake while it's warm to prevent cracking and let it cool completely.

Prepare the filling by beating the cream cheese, powdered sugar, and vanilla extract until smooth.

Spread the cream cheese filling over the cooled cake and roll it up again.

Wrap the cake roll in plastic wrap and refrigerate until ready to serve.