In a small bowl, combine: 1/2 cup dried cherries (as I was making it, I thought how fabulous it would be to replace these with chopped bing cherries), 1 tablespoon balsamic vinegar, 1/4 cup hot water. Let stand for 10 minutes utnil the cherries are softened.
Meanwhile, in a small saucepan, heat 1 teaspoon olive oil over medium-low heat. Add 1/2 cup finely chopped onion, cook until softened, stirring occasionally, about 10 minutes. Cherry mixture, 8-10 ounces rhubarb, ends trimmed, cut crosswise into 1/2-inch pieces (approx 2 cups) 3 tablespoons sugar. Bring to a boil.
Reduce the heat and simmer until the rhubarb has softened, 5 to 8 minutes. Stir in a pinch of ground nutmeg and season with salt and pepper. Remove from the heat and keep warm.
Generously season both sides of the pork with salt and pepper. In a large skillet, heat 2 tablespoons of olive oil over medium-high heat. Cook to pork (in 2 batches) until browned and cooked through, 3 to 4 minutes per side. Serve topped with the warm sauce.