To make Crust: Heat oven to 350° F.
Mix graham wafer crumbs, oil and sugar; press into bottom of 9-inch springform pan. Bake 8 minutes; let cool. Reduce oven temperature to 325° F.
To make Filling: In heatproof bowl set over saucepan of hot (not boiling) water, melt chocolate, stirring until smooth. Remove from heat and stir in balsamic glaze. Let cool slightly.
Using electric mixer, beat together cream cheese, sugar and melted chocolate mixture until light and fluffy. Beat in eggs, one at a time. Beat in sour cream and vanilla; pour over crust.
Wrap outside of springform pan in heavy-duty foil. Set inside roasting pan and pour in boiling water until halfway up sides of springform pan. Bake 90-100 minutes, or until sides are set and center is still slightly jiggly; cool 5 minutes. Run knife between cheesecake and pan; cool completely. Refrigerate 24 hours.
To make Cherry Topping: In small saucepan over medium heat, bring cherries, sugar, olive oil and 1/2 cup water to boil. Reduce heat and simmer 5-6 minutes, or until sugar dissolves.
Whisk cornstarch with remaining water; whisk into mixture. Cook about 3 minutes, or until thickened.
Transfer to bowl; cover and refrigerate at least 2 hours or up to one day. Spoon over cheesecake; drizzle with balsamic glaze.