Combine strawberries and 1/2 cup sugar in a large bowl, tossing gently to coat. Cover; let stand at room temperature 2 hours.
Meanwhile, beat cream cheese at medium speed with an electric mixer until smooth. Add 1/2 cup preserves, 1 tablespoon sugar, and flavorings, beating until blended. Gradually add 1 cup whipping cream, beating until blended.
Cook remaining 1/2 cup preserves in a small saucepan over medium heat 4 minutes or until melted, stirring constantly.
Arrange one-third of pound cake cubes in a 3-quart bowl or trifle bowl. Top with one-third each of cream cheese mixture, Caramel Sauce, pineapple, blueberries, and strawberry mixture. Repeat layers twice, ending with strawberry mixture. Drizzle with melted apricot preserves. Cover and chill 3 hours. Garnish, if desired. Store in refrigerator.
Tip: Make sure you use a 3-quart bowl. This trifle is what it says: It's bursting with ingredients and won't fit in a smaller bowl.