Preheat the oven to 350°F and coat a 9x13-inch baking dish with nonstick cooking spray.
In a large mixing bowl, beat together 1 white cake mix, 4 large eggs, 1 cup buttermilk, ½ cup vegetable or canola oil, and 1 teaspoon almond extract until smooth.
Pour the batter into the prepared baking dish and spread it into an even layer.
Bake for 25 to 30 minutes, or until a toothpick inserted into the center comes out clean.
Remove the cake from the oven and let it cool for 15 minutes.
While the cake cools, whisk together 1 small box (3.4 ounces) cherry gelatin and 1 cup boiling water for about 2 minutes, or until completely dissolved. Stir in ½ cup cold water.
Using the handle of a wooden spoon, a wooden skewer, or a large fork, poke holes all over the warm cake, spacing them about ½ inch apart.
Slowly pour the prepared gelatin mixture evenly over the cake, allowing it to soak into the holes.
Cover the cake and refrigerate for at least 3 hours, or overnight for the best flavor and texture.
In a large mixing bowl, beat together 1 (8-ounce) tub thawed whipped topping, ½ cup marshmallow fluff, ¼ cup powdered sugar, and 1 teaspoon almond extract until smooth and fluffy. If you prefer a thicker frosting, gradually mix in up to an additional ¼ cup powdered sugar.
Spread the frosting evenly over the chilled cake.
Serve topped with additional whipped topping, fresh cherries, cherry pie filling, or sliced almonds, if desired.