Just tried a slice of red velvet cake from Make my Cake and I didn't like it. I didn't even finish half of it. The cake itself just tastes like generic, too-sweet, yellow cake. It had none of the unique flavor that I associate with red velvet (from the cocoa maybe). I think it is just yellow cake with food coloring. The frosting was also too sweet, while it was cream cheese frosting there was not enough cream cheese for my taste (I recently made the CI recipe for carrot cake cream cheese frosting and this paled in comparison), so it ended up being way too sweet.
I much prefer the Margaret Palca red velvet, at least based on their red velvet cupcake.