Preheat oven to 425°F.
Drain cherries, reserving 1-cup liquid. Mix sugar and corn starch in a small heavy saucepan. Gradually stir in reserved liquid until smooth.
Cook and stir over medium heat until mixture bubbles. Cook 1 minute more until thick and clear. Remove from heat.
Stir in butter, cherries and food coloring. Pour into prepared crust. Cover with vented or lattice top crust.
Bake at 425°F for 10 minutes. Reduce heat to 350°F and bake 25-35 minutes until golden brown.