Drain strawberries, reserving liquid. Chop strawberries. Soften gelatin in 1/2 cup water; stir over low heat until dissolved; add remaining water. Combine cream cheese and sugar, mixing until blended. Gradually add gelatin mixture to cream cheese mixture, mixing until blended. Stir in reserved liquid, lemon juice and food coloring; chill, stirring occasionally until thickened but not set. Beat with electric mixer or wire whisk until smooth. Fold in strawberries and whipped cream. Wrap a 3" collar of foil around the top of a 1 quart souffle dish and secure with tape. Pour mixture into dish. Chill until firm. Remove collar before serving.
Variation: Increase sugar to 1 cup and substitute 2 cups strawberries and 1/3 cup sugar. Let stand several hours or refrigerate overnight. Continue as directed.