Hi there,
Now, I may be in the minority here, but when I brought my dog in for cherry eye, my vet told me that the dog's humans get more upset about it than the dog (because it looks horrible). He told me it does not hurt the dog, and that he could do surgery, but in his opinion he wouldn't. He gave me a very thin tube of NeoPoly Dex Opthalmic Ointment. It was a pain in the butt to get it on the right spot, but he promised me it would disappear in a matter of hours and it did. This was a long time ago and I only had to use it a few times. My girl has never had another instance of cherry eye, but my vet told me to keep the ointment handy in case it happens again. Just smear some directly on the red/pink part and it would go away within hours.
Did your vet give you this same ointment? Is the cherry eye still visible even after application of the med? Has it improved at all? I'm just relaying my personal experience with treatment that worked for us to avoid surgery (that my vet deemed not necessary, and merely was cosmetic). But you know your pup and if your vet is recommending surgery, then the only other thing I'd advise you of is to make sure you discuss appropriate anesthesia for this breed. I know too many people who have lost their brachycephalic dog during surgery. Best of luck to you!