Spray 13x9-inch glass baking dish with cooking spray. Cut almost through each bread slice, cutting from top crust to--but not through--bottom crust. In small bowl, stir together cream cheese, 2 tablespoons sugar, 2 tablespoons marmalade and the cranberries. Open bread slices enough to spread 1 heaping tablespoon cheese mixture evenly on 1 cut surface of each slice. Press bread slices together. Place in baking dish.
In medium bowl, beat eggs, milk, 1/4 cup sugar and the salt with wire whisk until well blended. Pour over bread; turn slices carefully to coat. Cover and refrigerate at least 8 hours or overnight.
Heat oven to 425°F. Drizzle melted butter over bread. Bake uncovered 20 to 25 minutes or until golden brown.
Meanwhile, drain juice from raspberries into 1-cup glass measuring cup; add enough water to measure 3/4 cup. In 1-quart saucepan, stir together juice mixture, cornstarch, 2 tablespoons sugar and 2 tablespoons marmalade. Heat to boiling, stirring occasionally; remove from heat. Cool 15 minutes. Stir in raspberries. Serve sauce with French toast.