Soften gelatin in cold water and set aside. In a saucepan, boil sugar and pineapple juice. Remove from heat and add gelatin, lemon juice and cherry juice. Cool to lukewarm. Whisk in cream cheese until blended. Stir in cherries and food coloring. Chill until slightly thickened then fold in whipped topping. Pour into a 9 x 13 baking dish, and refrigerate.