Blend together all of the ingredients except for the red food coloring in a mixing bowl until smooth.
Add in red food coloring until you reach your desired color of red.
Pour the batter into a well greased mug.
Cook in the microwave for 1 minute to 90 seconds, or until done to your liking.
Blend together the cream cheese and powdered sugar.
Spread the icing over the mug cake before serving.
Notes
To reduce calories, the oil can be replaced with applesauce. Using applesauce, the calories will be about 460.Don't over-mix the batter: Over-mixing can make your cake tough and chewy, so mix until everything is combined. A few lumps are okay; they will disappear while cooking.Adjust cooking time: Every microwave has different wattage settings so the ideal cooking time may vary. Start with one minute of cook time on high power and adjust accordingly.