HEAT oven to 325ºF. Coat 10-inch tube pan with no-stick cooking spray. Dust with flour.
COMBINE oil, sugar and vanilla in large bowl. Beat with mixer on low speed until blended. Add eggs, one at a time, beating well after each addition. Beat on high speed 3 minutes, scraping bowl occasionally.
COMBINE flour, cocoa, baking powder and salt in medium bowl. Add dry ingredients alternately with buttermilk to the egg mixture, beating well after each addition. Stir in 1 C. chocolate chips. Spoon batter into prepared pan.
BAKE 1 hour, or until toothpick inserted in center comes out clean. Cool on wire rack 20 minutes. Invert onto serving plate. Cool completely.
For Glaze: COMBINE 1 C. chocolate chips, shortening and corn syrup in a microwave safe bowl. Microwave on MEDIUM for 1 minute; stir. Repeat at 15 second intervals, until just melted and smooth.
COOL slightly. Spoon over cake. Let stand until glaze is firm.
(1 slice, 1/16 of cake)
Calories from Fat110g
Total Fat 12g
Saturated Fat 5g
Polyunsaturated Fat 0g
Monounsaturated Fat 0g
Total Carbohydrates 75g
Dietary Fiber 3g
Vitamin A 0%
Vitamin C 0%
Vitamin D 0%
*Percent Daily Values are based on a 2,000 calorie diet