Beat butter, sugar, baking powder and salt in a large bowl with mixer on high speed 3 minutes or until fluffy. Beat in egg and yolk until well blended. Reduce mixer speed to low; beat in flour just until combined.
Divide dough in thirds; place each portion in a separate bowl. Add melted chocolate and 1/2 tsp vanilla extract to 1 bowl; pistachios, almond extract and green food color to another bowl; and cherries, remaining 1/2 tsp vanilla extract and red food color to the last bowl. Stir each until ingredients have blended.
Place each portion between 2 sheets of wax paper. With a rolling pin, roll each into a 10 x 8-in. rectangle. Remove top sheets of paper. Invert cherry layer on chocolate layer, remove wax paper, then invert pistachio layer on cherry layer. Freeze 10 minutes until slightly firm. Remove wax paper from top. Starting at a long side, tightly roll up jelly-roll style, peeling off bottom sheet of wax paper as you go andpressing together any cracks in chocolate dough. Wrap and freeze 45 minutes until firm enough to slice.
Heat oven to 350°F. Have baking sheet(s) ready. Cut log in 1/4-in.-thick slices. Place pinwheels 2 in. apart on ungreased baking sheet(s).
Bake 10 to 12 minutes until bottoms are light golden. Immediately remove to a wire rack to cool completely.
Storage tip: Store airtight at room temperature up to 1 week or freeze up to 1 month.
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