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1. Line a baking sheet with waxed paper; set aside. In a heavy medium saucepan, combine chocolate pieces and whipping cream. Cook and stir constantly over low heat until chocolate melts. Remove saucepan from heat; cool slightly. If desired, stir in cherry brandy. Beat truffle mixture with an electric mixer on low speed until smooth. Stir in cherries. Chill about 1 hour or until firm.
2. Shape chilled chocolate mixture into 3/4- to 1-inch balls. Roll balls in cocoa powder, finely chopped walnuts, and/or powdered sugar. Makes about 24 truffles.