Heat oven to 350°F. Line large cookie sheet with parchment paper; set aside.
Combine butter and sugar in large bowl; beat at medium speed until creamy. Add eggs and almond extract; continue beating until well mixed. Reduce speed to low; add flour, baking powder and salt. Beat until just mixed. (Dough will be sticky.) Stir in cashews, 1 cup mini chocolate chips and cherries.
Divide dough into thirds. Shape into 3 (12-inch) logs. Place logs, 3 inches apart, onto prepared cookie sheet. Flatten each log to 1 1/2-inches in width.
Bake 20 minutes or until lightly browned and set. Cool 15 minutes on cookie sheet.
Reduce oven temperature to 300°F. Cut logs into 3/4-inch diagonal slices with sharp serrated knife. Place slices cut-side down onto ungreased cookie sheets. Bake 10 minutes; turn slices. Continue baking for 14 to 16 minutes or until edges are golden brown and crisp. Cool completely.
Combine 1 1/2 cups mini chocolate chips and shortening in small shallow microwave-safe bowl. Microwave on HIGH (100% power), stirring every 15 seconds, until chips are melted (60 to 90 seconds).
Dip bottom of each biscotti in melted chocolate, scraping excess off against edge of bowl. Place biscotti slices upright on parchment or wax paper-lined tray; let stand until chocolate is set.
*Substitute your favorite nut or dried fruit.