Almond Nougat

Line a 8 x 8 x 2-inch square baking pan with lightly buttered waxed paper or aluminum foil. Set aside. Mix first 4 ingredients in heavy saucepan. Cook, stirring, until sugar is dissolved. Cook, without stirring, to 250 °F (120 °C) or until a small amount of the mixture dropped in cold water forms a hard ball. In a large mixing bowl, beat egg whites until stiff, but not dry. Gradually pour in 1/4 of the syrup mixture while continuing to beat with electric mixer, until mixture holds its shape. Set aside. Cook remaining syrup to 300 °F (150 °C) or until a small amount of mixture separates into hard and brittle threads when dropped in cold water. Gradually pour remaining syrup mixture into first mixture, while continuing to beat with electric mixer, until mixture holds its shape. Add extract and food coloring to tint a delicate shade. Beat in butter and continue beating until very thick and satiny. Stir in nuts and cherries. Press into prepared pan, smoothing top. Let stand at room temperature until firm. Turn out of pan, peel off waxed paper and cut in 1 1/2 x 1-inch pieces. Wrap each piece individually in waxed paper or plastic wrap. For best flavor, store several days in a cool place before serving.