1. For sauce, in a small saucepan combine wine, brown sugar, honey, and, if desired, sherry. Cook over medium-high heat just until boiling, stirring until brown sugar is dissolved. Remove from heat. Cover and chill for at least 1 hour or up to 2 hours.
2. To serve, divide grapefruit and orange sections among 6 individual parfait glasses or dessert bowls. Sprinkle pomegranate seeds and juice or dried cherries over fruit. Spoon sauce over all. Cover and chill for 20 minutes before serving.