Heat oven to 350ºF.
Grease and flour 15x10x1” baking pan.
Lightly spoon flour into measuring cup; level off.
In large bowl, combine all bar ingredients except chocolate candy, cherries and nuts.
Beat about 2 minutes at medium speed or until smooth.
With spoon, stir in chocolate candy, cherries and nuts.
Spread in greased and floured pan.
Bake for 25-30 minutes or until light golden brown.
Meanwhile, in small heavy saucepan over medium heat, heat ¼ cup butter until light golden brown, stirring constantly.
Remove from heat; stir in powdered sugar and ½ tsp. vanilla.
Add 2 to 3 tbsp. milk, blending until smooth and of desired spreading consistency.
Quickly spread over warm bars.
Cool 1 hour or until completely cooled.
Cut into bars.