First I would like to explain about term Cipon. It’s a cake that recipe is based on chiffon with a bit improvisation and made a bit like chiffon cake. There is a bit different between cipon and chiffon in after baking treatment.
I read that olive oil is not recommended as an ingredients when we make chiffon. One day, somehow I was somehow mistakenly grab oil olive and use the oil as ingredient to make chiffon (I did mistake because I reused the olive oil bottle for vegetable oil refill). That time I was also a but suspicious, why the oil is brighter than usual. Yet, I did not think it was actually olive oil.
The cake was baked and succeeded, yet I had not try a bite of it. Another day, somehow i just realized that I had mistakenly used olive oil. I was like, oh dear, how is the taste. The look is good but may be it’s not good.
I then tried a bite. It is OK, GREAT! I mean, texture, aroma, and taste did not have problem.
I then rebake the cake with vegetable oil to compare with oil olive cake. I could not tell difference. Only chocolate flavor was more fragrant with olive oil one.
In my country, there are 3 variants of oil olive. I always use the light one. The color is brighter. The darkest one is intended for salad, so, i never use it for cooking.
I wonder, may be if it’s light olive oil, it’s ok to use it. Yet, if it’s for sale, it is not economically recommended. Too pricey. Haha. With the same result, I still prefer veggie oil.

The left one used light olive oil; the right one use vegetables oil
NOTE: This cake surface is always moist no matter how long I add baking time.
