Wash and hull strawberries, cut in half and set aside.
Combine sugar, cornstarch, and salt in a saucepan; mix well, and stir in water. Add butter, cook glaze over low heat until thickened, stirring constantly. Stir in food coloring.
Arrange strawberries and bananas in pastry shell, alternating layer of each. Pour glaze evenly over fruit; refrigerate 2 to 3 hours or until well chilled. Spread with whipped topping before serving.