Preheat the oven to 350°F (175°C). Grease a 9x13 inch baking dish.
Combine the cake mix, water, oil, and egg whites in a large bowl. Mix for 3 minutes until smooth.
Bake the cake for 30-35 minutes. Check for doneness with a toothpick. Let cool for 5-10 minutes.
Poke holes all over the cake using a skewer or fork, about ½ inch apart.
Dissolve the cherry Jell-O in 1 cup of boiling water, then stir in 1 cup of cold water.
Pour the Jell-O mixture over the cake, ensuring it seeps into the holes.
Refrigerate the cake for at least 4 hours until set.
Top the cake with whipped topping and garnish with maraschino cherries.