Melt shortening, butter, and chocolate in a double boiler. Cool slightly. Beat sugar, eggs, salt, and vanilla until mixture is light. Add melted chocolate mixture. Add flour and mix until smooth. Fold in coconut and cherries. Pour in a well-greased or lined 13x9 pan or two 8x8 pans. Bake at 350 degrees for 40-50 minutes.
Cool and then frost. Place in the fridge overnight if possible. *Option: if you do not want to frost, you may cut bars and roll in granulated sugar
Mix butter and powdered sugar until butter is incorporated. Add milk, cherry juice, almond extract, and food coloring. Beat until smooth and light. Stir in cherries and chocolate chips.