Mix the cornstarch with 1 tablespoon cold water in a small bowl and reserve. Combine the frozen cherries, sugar and a pinch of salt in a medium saucepan and place over medium-high heat. Stir frequently to dissolve the sugar as the cherries defrost and release their liquid. Bring to a boil and reduce to a simmer, then cook until the cherries are soft and the liquid has thickened slightly, about 5 minutes. Stir in the cornstarch mixture to thicken the sauce; simmer for just another minute, then remove from the heat. Stir in the lemon juice and let cool completely.
Put the cream cheese in a large bowl and beat with an electric mixer on medium-high speed until fluffy, about 3 minutes. Add the condensed milk, sour cream, vanilla and 1/8 teaspoon salt. Beat again until very fluffy. Transfer to a shallow bowl or baking dish and smooth out. Top with the cooled cherry sauce. Sprinkle with crushed graham crackers and serve with dippers.
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