In a microwave-safe bowl, melt butter; stir in cocoa until smooth. Cool slightly. In a large bowl, beat eggs and sugar. Stir in extracts and chocolate mixture. Combine the flour, baking powder and salt; gradually add to chocolate mixture. Stir in cherries and nuts. Pour into a greased 13-in. x 9-in. baking pan.
Bake at 350° for 30-35 minutes or until a toothpick inserted near the center comes out clean (do not overbake).
Meanwhile, for icing, in a large bowl, combine the butter, confectioners' sugar, cocoa, milk and vanilla until smooth; spread over hot brownies. Sprinkle with nuts. Cool on a wire rack. Cut into bars. Yield: 3 dozen.