Heat the butter and olive oil over medium heat in a non-stick skillet until the butter is melted.
Add the chorizo and cook for about 5 minutes, stirring occasionally. Pour in the wine and let simmer for a couple of minutes to cook off the alcohol and leave behind the flavor.
Add the zucchini, peppers and all the seasonings (smoked paprika through salt). Cook until the zucchini is starting to soften for another 5 minutes, stirring occasionally.
Add the crushed tomatoes and bring the sauce to a simmer. Cover the skillet partially and cook the sauce over low heat until it has thickened, an additional 5 - 8 minutes.
Add the eggs (evenly spaced in the skillet), cover the skillet and cook for 3 - 7 minutes, or until the eggs are cooked to your liking.
Garnish the eggs and sauce with fresh cilantro and shredded Manchego cheese. Serve immediately.