Preheat the oven to 350 degrees. Prepare a 9x13 baking dish with nonstick cooking spray.
Beat together the cake mix, water, vegetable oil, and eggs until smooth. Transfer to the prepared baking dish.
Bake the cake for 25 to 28 minutes or until a toothpick inserted in the center comes out clean. Allow the cake to cool.
Poke holes into the cake in a grid pattern using a wooden dowel or the rounded end of a wooden spoon.
Combine the milk and pudding mix, beating for approximately 2 minutes or until pudding is thickened.
Spread the pudding over the cake, creating an even layer.
Over the pudding, place bananas, strawberries and pineapple, pressing the fruit down into the cake slightly and making an even layer.
Cover the top with a layer of whipped topping.
Drizzle the top with chocolate syrup.
Top the dessert with chopped nuts and cherries.
Refrigerate until completely chilled. Serve cold.