Mix cake mix according to package directions, blending with eggs, oil & water. Spoon the cherries from the pie filling into the chocolate cake mix. Set the remaining cherry pie filling sauce aside for later. Bake in a greased 2 quart glass bowl according to temperature on box- additional baking time may be necessary. Be sure cake is firmly set.
Remove cake from oven and cool completely. When cool, invert cake onto a 9x13 pan. Crush graham crakers well and sprinkle around the cake (volcano) as beach sand - leaving an area off to the side for the blue ocean water.
In the water area, spoon the partially set prepared blue jello into place. It should be solid enough not to run everywhere.
Using a glass candle votive holder (or a shot glass), press down into the top of the volcano to create an area for the dry ice to sit. Leave in place.
Spoon remaining cherry pie filling sauce onto the top of the volcano (around the edges of the votive holder but not into it) and let drip down the sides, for a lava-looking effect. Store cake in fridge until ready to serve.
Just before serving, prepare the lava for eruption. Scrub the egg shell of the egg until it is clean and towel dry. Separate the egg white and discard yolk. Beat the white with the powdered sugar and red food coloring until peaks form.
Place a couple small chunks of dry ice (handle dry ice using gloves at all times!) into votive holder on top of cake. Pour 2 oz. of boiling hot water into egg mixture. Pour that hot liquid (the watery part - not the chunks of whipped egg) onto the dry ice, but don't overflow the votive. The dry ice will cause the egg frosting to bubble out and over the cake. Your eruption will last about 5 minutes and you can repeat if desired!