Sprinkle linen or thin cotton towel with 1/4 cup powdered sugar. .
Heat oven to 180C.
Line a swiss roll pan (15"X10"X1") with parchment paper; generously grease parchment paper.
Separate the eggs.
Beat egg whites in large bowl until soft peaks form.
Gradually add 1/2 cup granulated sugar, beating until stiff peaks form.
Beat egg yolks and vanilla in a bowl on medium speed for 3 minutes.
Gradually add remaining 1/3 cup granulated sugar; continue beating for 2 more minutes.
Place red food color in liquid measuring cup; add water to make 1/3 cup.
Sift together flour, cocoa, baking powder, baking soda and salt.
Add the flour mixture to egg yolk mixture alternately with colored water, beating on low speed just until batter is smooth.
Gradually fold chocolate mixture into beaten egg whites until well blended.
Spread batter evenly in prepared pan.
Bake 12 to 15 minutes or until top springs back when touched lightly in center.
Immediately loosen cake from edges of pan; invert onto prepared towel.
Carefully peel off the parchment paper.
Immediately roll cake and towel together starting from narrow end.
Place on wire rack to cool completely.