Line 13x9-inch pan with foil, extending foil over sides of pan. Butter foil. In medium saucepan, combine sugar, margarine and milk. Bring to a boil over medium heat, stirring constantly. Continue boiling 3 minutes over medium heat, stirring constantly. Remove from heat.
Add marshmallow creme; blend until smooth. Pour half of mixture into small bowl. Add chocolate chips to mixture in bowl; stir until smooth. Stir in almonds. Add almond bark to mixture in saucepan; blend until smooth. Stir in cherries, almond extract and food color.
Pour chocolate mixture evenly into buttered foil-lined pan. Spoon cherry mixture evenly over top. Pull knife through layers while gently turning and lifting to marble. Refrigerate 1 hour or until firm.
Remove fudge from pan by lifting foil. Cut fudge into squares. Store in refrigerator.