To prepare White Cake, Preheat oven to 350 degrees. Beat butter and shortening at medium speed with an electric mixer until creamy; gradually add sugar, beating well. Add eggs, 1 at a time, beating until blended after each addition.
Combine flour, baking powder, and salt; add to butter mixture alternately with buttermilk, beginning and ending with flour mixture. Beat at low speed until blended after each addition. Stir in extracts.
Place paper baking cups in 2 (12-cup) muffin pans, and coat with cooking spray; spoon batter into cups, filling two-thirds full.
Bake for 12 to 15 minutes or until a wooden pick inserted in center comes out clean. Cool in pans on wire racks 10 minutes; remove from pans to wire racks, and cool completely.
Fill each cupcake with strawberry or blueberry jam. To fill cupcakes, insert the end of a wooden spoon or dowel into the center of the cupcake to make a hole. Fill a zip-top plastic freezer bag with filling. Use scissors or kitchen shears to snip about 1/4 inch from one corner of the bag; insert bag into the hole in the cupcake. Squeeze gently until filling comes to the top of each cupcake.
To prepare Vanilla Frosting, beat first 4 ingredients at medium speed with an electric mixer until creamy. Gradually add powdered sugar, beating at low speed until blended. Beat at high speed 2 minutes or until creamy. Make 3 cups. Divide frosting into three bowls. Tinet1 bowl of frosting with desired amount of red food coloring and 1 bowl of frosting with desired amount of blue food coloring.
Insert a metal tip into a large decorating bag; spoon 1/4 cup each of red, white, and blue frosting into bag. Pipe a generous peak of frosting onto each cupcake. Top each with sprinkles, glitter stars, 1 red candy, and, if desired, 1 star pick.