Preheat oven to 350F. Spray a bundt pan with baking spray or butter and flour; set aside.
In a large bowl, beat together the softened butter, sugar and vanilla for about 5 minutes until light and creamy. Add the eggs and mix until well combined. Fold in the milk.
In a separate bowl, combine the dry ingredients: flour, baking powder and salt. Use a fine mesh sifter to add the flour into the batter, mixing after each addition just until the flour is combined. Divide the prepared batter between two large bowls.
Melt the dark chocolate and white chocolate in the microwave. Add the melted dark chocolate to one bowl, the white chocolate to the second bowl. Use a spatula to fold the chocolate into the batter until completely incorporated.
Spoon the batter into prepared bundt pan, alternating between dark and white chocolate batters. Then take a knife or flat spatula run through the batter in a swirl motion. Bake in preheated oven for about 60 to 75 minutes, or until a toothpick inserted into the center comes out clean. Remove from oven and invert onto a cake platter.
Once cake has cooled, prepare the ganache. Heat the heavy cream in the microwave until piping hot, then add the 1/2 cup chocolate chips. Stir until completely melted and smooth. Drizzle chocolate over cake ring, then garnish top with pomegranate arils, pistachio halves and/or whole fresh cranberries.
Serve immediately or covered on kitchen counter for up to 2 days.