Toymaker,
cherry is a white wood, the wood directly under the bark is the back if you were going to make a self bow. But since you are going to back it with an ash backing you will need to decrown it to make a good mating surface to join the two woods. If it is twisted you will want to straighten it first. Reduce the stave first it makes it easier to straighten. If it is wet wood steam it, if it is dry you can use dry heat. TBBII has a good section on straightening wood, also a discussion going on here about using heat right now.
Not sure what the grain orientation should be for ash, but like most white woods I would assume quartersawn or rift would be the first choice. Make sure the grain is straight either way.
Pyramid design 2 inches wide at the fades and a careful tiller and you will have a screamer, Cherry is a fast wood. Make sure your spot on on your tiller, a bad tiler is disastrous with cherry. Keep the backing 1/8" 0r less.