Make cake. Prepare batter following recipe directions. Bake and cool cake following pan instructions.
Ice cake. Prepare buttercream icing following recipe directions. Tint a portion red. Tint small amount black. Reserve remaining white. Use spatula and white icing to ice O and E smooth. Use red icing and spatula to ice L smooth. Use tip 16 and red icing in cut disposable decorating bag to pipe rosettes on L. Starting at the top of the V, Use tip 5 and red icing to pipe beads to form hearts.
Decorate cake. Tint 1 oz. fondant black (about a 1 5/8 in. ball). Use 9 in. fondant roller with pink guide rings to roll out fondant, 1/16 in. thick. Use knife to cut strips, 1/2 in. wide. Place strips on O, 3/4 in. apart. Use knife to trim strips to fit. Use tip 5 and red icing to outline center of O.
Tint 1/4 oz. fondant red (about a 1 in. ball). Use 9 in. fondant roller with pink guide rings to roll out red fondant, 1/16 in. thick. Use smallest cut-out from set to cut hearts. Place hearts on E. Use tip 4 and black icing to outline center of E.
The rosette has the tight, swirling look of a rose, but is achieved in one continuous rotation, rather than with wrapped layers of petals. Single rosettes are also used as candleholders on top of a cupcake.