Grease with shortening and flour a 10” bundt cake pan. Preheat the oven to 350º Fahrenheit.
In the bowl of a stand mixer, mix the sugar and shortening on medium speed until it is well combined.
Add in the sour cream, cherry juice, water and eggs. Beat again until combined.
Add in the flour, baking soda and salt. Mix on low speed, scraping the sides of the bowl as needed, for 2 minutes.
Move half of the batter to another bowl.
Add the melted chocolate to the separated batter and mix to combine.
Add the walnuts and cherries to the batter and fold to combine.
Spoon half of the cherry batter into the prepared pan, then half of the chocolate batter. Then repeat the layers. Smooth the top so that the batter is even in the pan.
Bake for 45-55 minutes or until a toothpick inserted in the center of the cake comes out clean.
Allow the cake to cool for 15 minutes, then loosen the cake and turn onto a cake plate to cool completely.
Make the glaze:
In a small mixing bowl, combine all of the ingredients and whisk well. Add enough warm water until the glaze is a drizzling consistency.
Drizzle the chocolate glaze over the cooled cake.
Serve with whipped cream and extra maraschino cherries.
Notes
*Some maraschino cherries do not have red food coloring in them. Use maraschino cherries that DO have red color so that the cake is slightly colored pink and the cherries stay bright red.