Preheat the oven to 325 degrees F. Prepare a 9-inch by 13-inch rectangular cake pan by spraying the bottom and sides with nonstick spray. Set aside.

In a medium size mixing bowl, whisk together the dry ingredients. Set aside.

In another medium-size mixing bowl, whisk together the eggs, buttermilk, water, oil and vanilla.

Add wet ingredients to the dry ingredients, and mix on low speed or with a whisk until combined. Batter will be thin. Scrape sides and mix for another 30 seconds. Pour the batter into the cake pan.

Bake for 30 to 35 minutes (you may need more time depending on your oven), until toothpick comes out with just a few moist crumbs on it. Cool completely.

Keep the cake in the baking dish for assembly.

Combine all of the ingredients in a medium saucepan. Heat to a boil. Boil for 5 minutes, stirring occasionally. You want the cherries to soften and the liquid to thicken slightly. The liquid part should still be pourable. This is what we want to soak the cake. Let the compote cool before adding to the cake.

In a chilled stainless steel bowl, beat the heavy whipping cream, powdered sugar and vanilla on high speed until soft peaks form.

Add the mascarpone cheese and beat on high until medium-stiff peaks form.

Using the handle of a wooden spoon or a straw, poke holes all over the cake.

Using a spoon, pour the juice of the cherry compote over the cake, making sure to get it into the holes.

Spoon the cherries onto the cake in an even layer.

Gently spread the mascarpone frosting over the cherries.

Using a peeler and a chocolate bar, grate chocolate shavings on top of the cake.

Carefully cover the cake with plastic wrap and refrigerate for about an hour. This allows the cherry juice to soak into the cake.