1.Grease two 8cm x 26cm (3-inch x 10¼-inch) bar pans.
2.Sprinkle gelatine over the water in small bowl. Combine sugar and the extra water in small saucepan; cook, stirring, over low heat, until sugar dissolves. Stir in gelatine mixture; bring to the boil. Boil, without stirring, 8 minutes. Remove from heat, stir in juice and extract. Divide mixture among two small bowls; tint one mixture pink. Cool to room temperature.
3.Beat gelatine mixtures with electric mixer on high speed about 8 minutes or until very thick; spread into pans. Cover; refrigerate 1 hour or until set.
4.Place large piece of baking paper on bench; sprinkle with coconut. Turn marshmallow from pans onto paper; turn to coat in coconut. Using a hot knife, cut marshmallow into 2cm pieces; reserve remaining coconut.
5.Grease 20cm x 30cm (8-inch x 12-inch) rectangular pan; line base and long sides with foil.
6.Melt chocolate and butter in medium heatproof bowl over medium saucepan of simmering water (do not allow water to touch the base of bowl). Remove bowl from heat.
7.Spread 1/2 cup of the chocolate mixture over base of pan. Arrange marshmallows on chocolate in pan; top with reserved coconut, cherries and peanuts. Drizzle remaining chocolate over mixture. Cover; refrigerate 2 hours. Serve cut into pieces.