In a stand mixer, mix together the butter and sugar until light and fluffy. Mix in the eggs, one at a time.
Add the vanilla, salt, cocoa powder, red food coloring, and water. Mix until combined.
Alternate adding the flour and buttermilk, until incorporated. Divide the batter among 24 cupcake liners, or 2 9 inch cake pans. Bake the cupcakes for 20-25 minutes (cake will take about 30), or until a toothpick inserted in the center comes out clean.
Allow to cool 10 minutes before removing and placing on a wire rack to cool completely.
For the Icing:
In a small saucepan over medium low heat, whisk together the flour and milk. Stir, continuously until thickened. Refrigerate to cool completely.
In a stand mixer, cream together the butter and sugar until light and fluffy. Add in the cooled milk mixture and vanilla. Whisk until no longer grainy and thickened, about 10 minutes.
Keyword red velvet cupcakes, valentines day, waldorf icing