In a 4 quart saucepan, combine the sugar, whipping cream, milk, corn syrup and salt. Stir to combine then cook over medium heat, not stirring, until it reaches 240F on a candy thermometer.
Pour the mixture into an ungreased 9x13-inch baking dish. Do not scrape the saucepan! Allow the mixture to cool until the bottom of the dish is just barely warm. Add the cherry oil and the food coloring, and using a wooden spoon, start to stir the mixture. It will be easy to stir at first, then the mixture will start to become creamy and harder to stir. Continue to stir until the mixture loses it's shine. It will start to resemble a thick frosting. This will take anywhere from 15 minutes to 45 minutes.
Using your hands, for m the mixture into 1-inch balls. Place on a lined baking sheet. With your fingers, lightly press down on the top of the balls. (This will make them easier to dip).
Melt the chocolate according to the package directions. Stir in the chopped pecans, then dip each of the centers into the chocolate/nut mixture. (I find that using my hands and a fork is the easiest way to do this.) Transfer to a waxed paper lined baking sheet to allow the chocolate to set up.
Notes
The fondant centers can be made well ahead of time. They can be stored in the refrigerator for several weeks or in the freezer for several months.