Combine flour, margarine and confectioners' sugar. Mix with electric mixer until dough forms a ball. Roll out and press onto bottom of a 13 x 9-inch baking dish; press pecans into dough. Bake at 350 degrees F until golden; cool.
Whip cream cheese with confectioners' sugar; fold in Cool Whip®. Spread mixture evenly over cooled crust. Place in refrigerator to set.
Layer 2 1 large box instant vanilla pudding
Mix pudding according to instructions. Pour evenly over first layer. Return to refrigerator to set.
Layer 3 1 large box instant chocolate pudding
Mix pudding according to instructions. Pour evenly over second layer. Return to refrigerator to set.
Layer 4 2 cups Cool Whip® 24 maraschino cherries, with stems 3/4 cup chopped pecans 1 Hershey bar, shaved
Spread Cool Whip® evenly over third layer; garnish with pecans and chocolate. Place cherries in rows about 1 1/2 inches apart with stems up. Keep in refrigerator until ready to serve.