Preheat oven to 350 degrees F (set to 325 if using a very dark pan). Grease a 15x10x1 inch pan with cooking spray and then cover with parchment paper and then grease the parchment payer.
Lay a tea towel on a flat work surface and sprinkle it with powdered sugar and set aside.
In a medium mixing bowl, combine flour, baking powder, and salt. Set aside.
In a large mixing bowl, beat eggs on high for 3 minutes until pale in color. Continue beating as you slowly add in the sugar. Add the oil, buttermilk, vinegar, vanilla, and food coloring and beat for 1 more minute. Add in the dry ingredients and mix until combined. Pour batter into pan and tilt to even out the batter.
Bake for 12-15 minutes or until it springs back when touched.
When done, immediately invert the cake onto the towel. Remove the parchment paper and then roll the cake in the towel starting at the short end. Set on a wire rack and allow it to cool completely.
Beat cream cheese with powdered sugar and vanilla until smooth. Mix in cool whip until creamy. Refrigerate until cake has cooled completely and ready to fill.
Unroll the cake and spread the filling evenly over the top. Roll the cake back up and place seam side down on a platter. Cover with plastic wrap and place in the fridge for at least and hour before serving. Dust with powdered sugar, slice, and serve.