in a large bowl, combine butter and cream cheese; beat with an electric mixer on medium to high speed for 30 seconds. Add powdered sugar, cocoa powder, baking powder, baking soda, and salt; beat until combined. Beat in egg and vanilla. Beat in as much of the flowr as you can with the mixer. Stir in remaining flour. Divide dough in half. Cover and chill about 2 hours or until dough is easy to handle.
Meanwhile, for cherry filling: Stir together cherry preserves and dried cherries.
Preheat oven to 375. Line two cookie sheets with foil; set aside. On a lightly floured surface, roll each half of the dough to about 1/8 inch thickness. cut douh using a 3 inch scalloped or plain round cookie cutter. Place cutouts1/2 inch apart on prepared cookie sheets. Spoon a scant 1 t. of the cherry filling onto the center of each circular cutout. Brush edges of the cutouts with water. Fold each cutout in half over filling. Using your finger, gently press edges to seal. Bake in theh preheated oven for 8-9 minutes or until edges are firm. Transfer cookies to a wire rack set over waxed paper; cool.
In a heavy small saucepan, combine chocolate and shortening; heat and stir over low heat until mixture is melted. Spooon chocolate mixture into a heavy resealable plastic bag. Snip a small corner off bag; drizzle chocolate over cookies, if desired. Let stand until chocolate sets.