Red velvet is probably the last cake I would consider carving. They don't call it velvet for nothing. It's crumb is very smooth, and in my opinion, not stable enough to withstand a lot of handling.
I am going according to my own experience with Red Velvet cake. If anyone knows of a sturdy recipe, I would also be interested.
Theresa 
I carved a Red Velvet cake a couple of weeks ago for the 'Hurricane Rita' photo in my pictures. I used the recipe from Baking911. I just put it in the freezer for a couple of hours before I carved it...had no problems at all! (and I was really worried....)
The red velvet cake is wonderful, but has so many crumbs, it is a nightmare to ice and not have the crumbs showing. My guitar cake was chocolate and red velvet, and even when I thought I had all the crumbs covered, a day later they started popping through, kinda like measles! Janice
Just wanted to add, if anybody figures out how to make a red velvet cake that is carveable, please do let us know.
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