To deep-fry fruitcake garnish:
Heat 4 cups vegetable oil in a deep-fryer to about 375 degrees F.
In a shallow dish, whisk 1 egg. Place the chopped nuts in another shallow dish. Dip the fruitcake cubes in egg and then roll in nuts. Put the fruitcake on a skewer or place in a small fry basket. Carefully place the fruitcake in the hot oil. Hold it under with a spider strainer to ensure even browning. It should turn golden in 1 to 2 minutes.
Remove the fruitcake to paper towels and let drain. Allow the fruitcake to sit and cool for about 5 minutes.
To make the cocktail:
Combine the applejack brandy, hazelnut liqueur, black currant liqueur, cherry liqueur, cinnamon liqueur, grenadine, and cream in a Colins glass, fill with ice and stir.
Garnish drink with a cherry and a cube of deep fried fruitcake on a cocktail pick.