Combine cherries and cherry brandy: cover and let stand overnight.
Place egg whites in a small bowl; let stand at room temperature 30 minutes. Line a greased 15x10x1-in. baking pan with waxed paper; grease the paper and set aside.
Preheat oven to 375°. In a large bowl, beat egg yolks until slightly thickened. Gradually add 2 tablespoons sugar, beating on high speed until thick and lemon-colored, about 5 minutes. Beat in oil, vanilla and lemon extract.
With clean beaters, beat egg whites on medium speed until soft peaks form. Gradually beat in remaining sugar, 1 tablespoon at a time, on high until stiff peaks form; fold into yolk mixture. Combine flour, walnuts, cinnamon and baking powder; gradually fold into egg mixture. Spread into prepared pan.
Bake 10-12 minutes or until cake springs back when lightly touched. Cool 2 minutes. Invert onto a kitchen towel dusted with confectioners’ sugar. Gently peel off waxed paper. Roll up cake in the towel jelly-roll style, starting with a short side. Cool completely on a wire rack.
In a large bowl, beat cream cheese until smooth. Beat in confectioners' sugar. Fold in whipped cream. Unroll cake; spread with 1-1/4 cups filling to within 1/2 in. of edges.
Drain cherries and pat dry with paper towels. Arrange cherries over filling. Starting at the short side, roll up cake; place seam side down on a serving platter. Frost cake with remaining filling. Drizzle with melted chocolate if desired. Cover and refrigerate until serving.