Preheat the oven to 350°F/180°C and line a muffin pan with 16 parchment paper cupcake liners. Set aside.
In a large mixing bowl, add the eggs, heavy cream, and vanilla extract. Using an electric mixer mix for about 2 minutes until frothy.
Combine the dry ingredients: almond flour, coconut flour, sweetener, baking powder, cocoa powder into a different bowl. You can sift them to get rid of the bigger clumps.
Add the dry ingredients into the beaten eggs and continue mixing until a batter starts to form. Incorporate the softened butter and red food coloring. Stir for a few minutes more. Let the batter rest for 5-10 minutes.
Fill the cupcake liners with about two tablespoons of batter.
Transfer to the preheated oven and bake for about 18-20 minutes or until a toothpick inserted in the thickest part of a cupcake comes out clean.