Combine eggs and coconut sugar into the bowl of a stand mixer. Beat on high until light and fluffy, 4-5 minutes. Add almond flour, coconut flour, cocoa powder, water, vanilla and zest. Mix until just combined.
Heat 5 ounces of the chocolate and the olive oil over a double boiler. Stirring constantly until melted. Add the chocolate mixture to the batter and mix until just combined. Add the remaining 2 ounces of chocolate and fold into the batter.
Line a 9-inch by 9-inch baking pan with parchment paper. Pour batter into the pan, gently spreading the batter evenly. Bake for 35 45 minutes or until a cake tester (or toothpick) comes out with moist crumbs. The toothpick will have some batter on it but it will look like cake crumbs, it should not be completely liquid.