Preheat the oven to 350°F (175°C or 165° for fan ovens, Gas Mark 4).
Grease a 2 lb (8½ x 4¼ x 2½ inch) loaf pan with some butter.
Remove the pits from the cherries and cut each one in half.
Put the cherries in a small bowl, sprinkle the 1 teaspoon flour over top and toss gently.
Sift the 1¼ cups flour, the cocoa, baking powder and salt into a medium bowl.
Stir in the sugar.
Set the dry ingredients aside.
In a large bowl, whisk together the yogurt, eggs, vanilla and oil.
Add the wet ingredients to the dry ingredients and beat with a wooden spoon until all the flour is mixed in and the batter is smooth.
Gently fold in the flour-coated cherries.
Pour the batter into the loaf pan and bake for 40 to 50 minutes or until a cake tester inserted in the centre of the cake comes out clean.
Cool in the pan for 20 minutes before removing the cake and placing it on a wire rack to cool completely.
When the cake is cold, prepare the glaze (if using) by putting the icing sugar in a small bowl and whisking in the maraschino cherry juice.
Gradually whisk in the water, a bit at a time, until a smooth, drizzle-able consistency is reached.
Whisk in the food colouring, if using.
Place a piece of parchment or waxed paper underneath the rack the cake is sitting on and drizzle the glaze over the cake.
Allow the glaze to set for at least half an hour before slicing.