Line 13 x 9 x 2-inch baking pan with foil. Coat with cooking spray.
Finely chop cherries and sugar in food processor. Combine cherries, extract and food coloring in bowl.
Bring to boiling half-and-half, sugar and salt in large saucepan, 5 minutes, stirring with flat wooden spatula and scraping bottom of pan. Remove from heat. Stir in marshmallow cream. Boil 2 minutes, scraping bottom of pan. Remove from heat. Stir in chocolate until smooth. Pour half of mixture into bowl with cherries; stir.
Stir almonds and almond extract into remaining half of cream mixture. Working quickly alternately spoon cherry and almond mixtures into prepared pan, drizzling in decorative pattern and layering. Swirl with knife. Cool on wire rack to room temperature. Cover and refrigerate.
Remove foil with fudge from dish. Peel off foil. Cut into squares, 12 on long side, 8 across short side. Or cut into hearts, using 1-1/4-inch heart cutter coated with cooking spray.