For cake: Combine flour and sugar. Cut in butter with a pastry blender or 2 knives until mixture resembles coarse crumbs. Set aside 1 cup of crumbs. Stir undissolved yeast, baking soda and baking powder into remaining crumbs. Combine sour cream and water; heat to very warm (120° to 130°F). Stir sour cream mixture, egg and extracts into flour mixture. Spread batter in greased 9 x 3-inch round OR heart shaped springform pan. Set aside while making filling.
For filling: Combine cream cheese, sugar, egg and extracts; beat until smooth. Optional: tint to desired shade of pink with red food coloring (about 2 to 3 drops). Pour onto prepared cake batter. Top with jam and sprinkle with reserved crumbs and almonds. Allow to rise in a warm, draft free place for about 30 minutes or until cake almost doubles in height.
Bake in a preheated 350°F oven for 45 to 50 minutes, until golden. Cool at least 2 hours. Store cake in refrigerator.
Recipe Note: The light texture of this cake depends on cake flour. Do not substitute all-purpose flour.