In medium saucepan, simmer chicken livers in water for 2 to 3 minutes. Drain, reserving 3/4 cup liquid.
Melt margarine in medium skillet. Add livers; cook until brown. Add apple, onion, garlic, thyme, marjoram, sherry and reserved liquid; mix well. Simmer 15 to 20 minutes or until liquid is absorbed, stirring occasionally.
In blender container or food processor bowl with metal blade, process mixture until pureed. Stir in salt and pepper. Spoon into serving bowl. Cover; refrigerate at least 1 hour before serving to blend flavors. Serve with Melba toast rounds or crackers.