In a large saucepan, bring rhubarb, water and 1/2 cup of sugar to a boil; reduce heat and simmer uncovered for 6 to 8 minutes, or until rhubarb is tender. Cool slightly.
Set aside 1 cup of rhubarb liquid for glaze place rhubarb and remaining liquid in blender and process until pureed. Return to saucepan, bring to a boil. Stir in the gelatin until dissolved; stir in vanilla. Cover and chill for 1 hour or until slightly thickened.
Meanwhile for glaze: combine reserved rhubarb liquid and remaining sugar in a small saucepan; bring to a boil.
In small bowl, combine cornstarch and cold water until smooth. Whisk into boiling mixture. Cook and stir until thickened. Remove from heat. Cover and refrigerate overnight.
Gradually fold the whipped cream mixture into rhubarb mixture and arrange 17 split ladyfingers in bottom and 26 around the edges of ungreased 9-inch spring form pan. Spread 1/2 the rhubarb mixture into the pan. Arrange remaining ladyfingers over rhubarb mixture. Carefully spread with remaining rhubarb mixture. Cover and chill overnight. Carefully spread glaze over top. Remove sides of pan. Garnish with strawberries and whipped cream.