Make the white cake mix in a large bowl per box directions, following directions for baking in round cake pans. Let cakes cool completely.
Poke holes in the cooled cake using the wide end of a chopstick. Push the chopstick through the cake all the way to the bottom of the cake. Repeat several times on the cake layer. Set cakes aside.
Place the black cherry jello powder and lime gelatin powder in two separate mixing bowls. Pour 1 cup hot boiling water over each bowl of jello powder, stirring until gelatin has dissolved. Let cool for 10 minutes.
Using a tablespoon, pour jello over 1 round of cake and then the lime gelatin over the second round. Cover cake with plastic wrap and store overnight in the refrigerator to allow gelatin to set.
At least 1 hour before serving, layer and frost cake with cool whip. Keep the cake in the refrigerator until ready to serve. Store any leftovers in refrigerator.