Add cocoa, water, oleo, and oil in pan and bring to boil; remove from heat.
Sift sugar, flour, and soda together in separate bowl.
Pour boiling mixture over flour mixture.
Mix together buttermilk, eggs and vanilla; add to other mixture.
Pour in greased pan and bake at 350º until cake feels springy.
Frost hot cake with frosting (recipe below).
Boil oleo, cocoa and milk in pan. Add 1 box powdered sugar and mix until creamy. Spread over hot cake.