Cut the cake horizontally into thirds and place the bottom layer on a serving plate. In a small bowl add the yogurt and a 1/2 cup of whipped topping and mix well to blend. Spread on the bottom layer and top with the sliced grapes. Add the middle layer and spread with the preserves and cover with the orange segments. Put the last layer on top and frost entire cake with remaining whipped topping. Toss 1 cup coconut with the toasted coconut and press into sides of cake. Arrange pineapple and cherries on top.
Refrigerate until ready to serve. Serve at room temperature.