Soften gelatin in 1/2 cup cold water; set aside. Drain pineapple, reserving juice; add enough water to juice to make 1 cup. Bring pineapple juice mixture to a boil; remove from heat, and stir in softened gelatin. Chill mixture until consistency of unbeaten egg white. Prepare whipped topping mix according to package directions, omitting vanilla; fold 1 cup topping into gelatin mixture (reserve remaining topping for other uses). Gently fold next 5 ingredients and pineapple into gelatin mixture; pour into a lightly oiled 4 cup mold. Chill until firm. Unmold on serving tray; garnish with additional cherries, if desired.