1In medium bowl, soak raisins in water 10 minutes or until plump. Drain; pat dry.
2In bowl of food processor, add raisins and all remaining ingredients except cereal. Cover; process, stopping to scrape side of bowl if necessary, until mixture forms a thick, sticky paste. (You can add a little water if mixture is not sticky enough.)
3Roll mixture into 12 balls with moistened hands. In shallow dish, place cereal. Roll balls in cereal to coat. Serve immediately or cover and refrigerate until ready to serve.