Heat the refried beans in a medium saut pan or cast iron skillet. Stir in enough water to get a creamy, easily dip-able consistency, about 1/4 of a cup. Add the bacon or olive oil, to help the consistency of the beans.
Mix in the chipotle chili powder (or Tabasco, or adobo, or regular chili powder) and cumin to taste. Note that the avocados and the sour cream will cool down the spiciness of the beans considerably, so you can afford to be a bit more spicy than you might think. Stir in salt to taste, depending on how salted your refried beans are to begin with, and depending on how salty the tortilla chips are that you are serving with the dip.
Once the beans are hot and bubbly, spread them over the bottom of a warmed serving dish. Immediately add the shredded cheese so that the heat from the beans helps melt the cheese. (The cheese doesn't need to be completely melted, but even if it is just a little, it will help the dip stay on the chip.)
Layer on the chopped green chilies, chopped avocado, chopped tomato. Spoon on the sour cream (or crema Mexicana, crema fresca, or even cream fraiche). Top with sliced green onions and olives.
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