NOVELTY - Process (P1) for cracking heavy hydrocarbons and recovering light olefins involves: contacting heavy hydrocarbons with cracking catalyst to form light olefin effluent; separating effluent to first and second streams with less than or equal to 4 and greater than or equal to 5 carbon hydrocarbons respectively; contacting first stream in absorption system with solvent to absorb greater than or equal to 2 carbon hydrocarbons to form first stream of methane and hydrogen, and second stream of solvent and greater than or equal to 2 carbon hydrocarbons, at 4-27 degrees C; separating second stream to first solvent stream and second stream; and returning solvent stream to absorption system.    USE - For catalytic cracking heavy hydrocarbon feedstock and recovering select hydrocarbons including light olefins, such as ethane, ethylene, propane and propylene (claimed). The ethylene is useful in refinery or petrochemical process.    ADVANTAGE - The process provides improved process of cracking heavy hydrocarbons, while recovering light olefins from fluidized catalytic cracking (FCC) processing effluent in an effective and efficient manner; where prior art generally fails to provide processing schemes and arrangements for obtaining light olefins via catalytic cracking of heavy hydrocarbon feedstock. As compared to the prior art processes, the improved process advantageously utilizes absorption and separation processing of hydrocarbon effluent products to produce or form process streams containing specifically desired ranges of hydrocarbons including light olefins. The catalyst used has catalyst composition including first component comprising large pore molecular sieve and second component comprising zeolite with not greater than medium pore size ( greater than or equal to 1 wt.%) of catalyst composition. The high concentration of the medium or smaller pore zeolite in second component of catalyst composition improves selectivity to light olefins by further cracking lighter naphtha range molecules. But at the same time, resulting smaller concentration of first catalyst component still exhibits sufficient activity to maintain conversion of heavier feed molecules to reasonably high level. The process is capable of processing additional volumes of light olefins created by fluid catalytic cracking units operating in high severity modes and configurations. An additional benefit of the process is recovery of valuable ethylene for use in other refinery or petrochemical process rather than being purged to a fuel gas grid or flare system.    DETAILED DESCRIPTION - Process (P1) for catalytic cracking a heavy hydrocarbon feedstock and recovering select hydrocarbons including light olefins, involves:    (A) contacting a heavy hydrocarbon feedstock with a hydrocarbon cracking catalyst in a fluidized reactor zone at conditions to produce light olefins to form a fluid catalytic cracker effluent stream comprising a range of hydrocarbons;    (B) separating the fluid catalytic cracker effluent stream in a separation system to form a first separation system stream comprising primarily less than or equal to 4C hydrocarbons, and at least a second separation system stream comprising primarily greater than or equal to 5C hydrocarbons;    (C) cooling at least a portion of the first separation system stream;    (D) compressing at least a portion of the first separation system stream;    (E) contacting at least a portion of the first separation system stream in an absorption system with an absorption solvent at conditions to absorb a significant portion of greater than or equal to 2C hydrocarbons from the first separation process stream to form a first absorption system stream comprising primarily methane and hydrogen, and to form a second absorption system stream comprising a portion of the absorption solvent and greater than or equal to 2C hydrocarbons, where the conditions to absorb a significant portion of greater than or equal to 2C hydrocarbons in the absorption system comprise 4-27 degrees C (40-80 degrees F);    (F) separating at least a portion of the second absorption system stream to form at least a first process stream comprising at least a portion of the absorption solvent and at least one second process stream comprising a remaining portion of the second absorption system stream; and    (G) returning at least a portion of the first process stream to the absorption system as the absorption solvent.