Preheat your waffle iron according to the manufacturer's instructions.
In a large mixing bowl, whisk together the dry ingredients: flour, cocoa powder, baking powder, baking soda, and salt.
In a separate bowl, mix the wet ingredients: buttermilk, eggs, sugar, vegetable oil, vanilla extract, and food coloring until well combined.
Pour the wet mixture into the dry ingredients, mixing until just combined. Be careful not to overmix; a few lumps are okay.
Lightly grease the preheated waffle iron with cooking spray or oil before pouring the batter.
Pour the recommended amount of batter onto the waffle iron and close the lid. Cook according to your waffle iron's process, usually for about 4-6 minutes.
Once cooked, carefully remove the waffles and keep them warm in an oven set to low heat while you cook the remaining batter.
Serve the red velvet waffles warm with your choice of toppings, such as cream cheese glaze, whipped cream, or fresh berries.