It depends on what your definition of 'is' is.
But seriously, I may have cheated on my New Year's resolution to give up chocolate for a year. I have had red velvet cake on a two occasions now, in what I thought was a good alternative to a chocolate dessert. It turns out that depending on which recipe was used, red velvet cake may contain cocoa powder. So, just to be safe, no more red velveet cake. [Shakes fist] Foul temptress cake and your smooth, red deliciousness!