Red Velvet Cake/Cupcakes

I've been looking for a great Red Velvet recipe for awhile and I think I have found a winner... for now. The texture is light and perfect and the cake is not too sweet. I'm still working on the frosting, the one I made from Paula Deen is super sweet, but much too cream cheesy and rich for my liking. Tastes like what you would put on cinnamon rolls. I can't wait until the holidays so I can make a full on cake, I just halved the recipe and made a dozen cupcakes for the test run.

I'll post the frosting recipe for kicks but I think I know what needs to be done to lighten it up a bit.

Red Velvet Cake/Cupcakes
Adapted from Paula Deen's recipe

2 1/2 cups flour
2 cups sugar
1 tsp. salt
2 Tbsp cocoa
1 1/2 tsp. baking soda
1 cup oil (can be partially or fully substituted with plain yogurt, sour cream, or applesauce but that may affect the texture a bit)
2 eggs, separated
1 1/2 cups buttermilk (I used fat free milk plus 1 Tbsp. vinegar)
1 1/2 tsp. vanilla
2 oz. red food coloring (all I had was pink and I didn't add that much so mine were more rose colored)

Preheat oven to 350 degrees
Combine in a large bowl flour, sugar, salt, cocoa and soda. Sift or whisk together and place aside.

Separate the egg whites from the yolks, beat whites until soft peaks form (about a couple minutes) Place the whites aside.
In a medium owl blend oil, egg yolks, buttermilk, vanilla. Slowly blend (or hand mix) into flour mixture until just blended. Do not over mix. Mixture should be not too thick and not too runny either. Gently fold in the egg whites until just blended.

For a cake bake in 3 8-inch round greased and floured cake pans for 20-25 minutes, check with a toothpick.
For cupcakes bake for 18 - 20 minutes. Will make 2 dozen
Cool completely before frosting.

(I omitted the coconut and pecans and just a note to self I believe it can be lightened up with a flour and milk sauce and less conf. sugar)
Frosting:

1 8-ounce package cream cheese
1 stick butter softened
2 cups melted marshmallows (or fluff)
1 (1-pound) box confectioners' sugar
1 cup shredded coconut
1 cup chopped pecans

Blend cream cheese and butter together in a mixing bowl. Add marshmallows and sugar and blend. Fold in coconut and nuts. Spread between layers and on top and sides of cooled cake.