In a large skillet, brown beef in oil on all sides. Transfer meat to a 5-qt. slow cooker. Add onions and peppers. Combine tomatoes, water, garlic, cilantro, beef bouillon, pepper, cumin and oregano; pour over vegetables.
Cover and cook on low for 6-8 hours or until meat is tender. Remove beef; cool slightly. Skim fat from cooking juices; stir in olives. Shred beef with two forks and return to slow cooker; heat through. Serve with rice if desired. Freeze option: Transfer individual portions of stew to freezer containers and freeze. To use, partially thaw in refrigerator overnight. Heat through in a saucepan, stirring occasionally and adding a little water if necessary.
Wear disposable gloves when cutting hot peppers; the oils can burn skin. Avoid touching your face.