Preheat your oven to 325 degrees Fahrenheit. Grease a tube pan and then flour it.
For 3-5 minutes, cream together shortening and butter with an electric mixer (paddle attachment) or hand mixer. Add in sugar gradually as you mix.
Add in the eggs one by one. Stop every so often to scrape the sides of the bowl down.
Add in Fanta and flour a little at a time, alternating between the two.
Add in salt, orange zest, vanilla extract, and whipped topping mix, beating them together.
Add food coloring until you turn the cake a deep orange color (optional).
Pour the batter into your pan and let it bake for 1 hour and 15 minutes.
Allow the cake to cool in the cake pan for about 15 minutes, and then release it onto a cake stand.