MICROWAVE 1 cup morsels in small, uncovered, microwave-safe bowl on HIGH (100%) power for 1 minute; STIR. The morsels may retain some of their original shape. If necessary, microwave at additional 10- to 15-second intervals, stirring just until melted. Combine oats, flour, cocoa, baking powder and salt in medium bowl.
BEAT sugar, butter, eggs and vanilla extract in large mixer bowl until smooth. Beat in melted chocolate. Stir in oat mixture. Cover; refrigerate dough for 1 hour.
PREHEAT oven to 350° F.
SHAPE dough into 1-inch balls; press thumb into tops to make deep depression. Place 2 inches apart on ungreased baking sheets. Fill each depression with maraschino cherry.
BAKE for 10 to 12 minutes or until set. Cool on baking sheets for 2 minutes; remove to wire racks to cool completely. Melt remaining morsels; drizzle over cookies.