Generally, if the bark wraps around the log(spiraled) the wood underneath follows suit. When split that would result in a stave with propeller twist. If that is the case, a bow can be built with it but it will make the process a bit more difficult.
Actually, you and Clay probably are talking about 2 different cherries. You probably have black cherry(Prunus serotina) where as Clay's might be talking about Prunus virginiana(common choke cherry). Both will make good bows but there is a difference in their bark. The choke cherry has a very tough bark that could hamper splitting the log. I use choke cherry bark from Oregon for decorative bow backings but I believe it has protection properties also. I don't believe black cherry bark would have the same properties, even though both grow around the trunk instead of running lengthwise as other tree barks do.