Using a mandolin or a vegetable peeler, create long, thin strips with the zucchini. Set aside until ready to cook.
Meanwhile, in a blender or food processor, combine the roasted red pepper, garlic, almonds, hazelnuts, tomatoes, vinegar, smoked paprika, cayenne and salt by pulsing until chunky.
Open the feed spout and pour in the olive oil while pulsing, and blend until not quite smooth. {You want it to have some texture.}
In a large skillet over medium high heat, place zucchini strips and about 2 tablespoons of water. Cover with a lid {or an overturned plate large enough to place over the top} and allow the zucchini to steam for about 3-4 minutes. Uncover and allow most of the water to cook off.**
Pour in about half of the Romesco sauce, and gently shake the pan to toss with the zucchini. Cook for 2-3 minutes more just to warm the sauce through and allow the zucchini to become "floppy". Add olives and toss to combine. Serve immediately {with a sprinkle of cheese, if desired}.