Grease two 9 inch round pans and preheat oven to 350 F. Cream shortening and 1 1/2 cups sugar. Add eggs and beat well. Make a paste of cocoa and red food coloring and add to creamed mixture. Mix salt, 1 teaspoon vanilla and buttermilk together. Alternating between the two, add the flour with the milk mixture to the creamed mixture. Mix soda and vinegar and gently fold (don't use mixer) soda and vinegar mixture into cake. Transfer to prepared pans and bake for 30 minutes. Remove from oven and let cake cool then carefully remove from pans, then let cool completely before frosting.

Frosting: Mix heavy cream and flour in a small bowl. Heat the mixture in the microwave for 45 seconds on high and set aside to cool. In a mixing bowl, combine butter, shortening, confectioner's sugar, vanilla extract and butter extract. Using and electric mixer, beat on low until combined and then beat on medium speed for 6-8 minutes. Add the heavy cream mixture, and beat on medium speed for another 10 minutes. Mixture will appear watery at first, but will become fluffy.