Place KELLOGG'S COMPLETE Wheat Flakes cereal in small bowl. Toss lightly with cinnamon and butter. Set aside.
Measure biscuit mix, sugar, shortening, egg, milk, and vanilla into mixing bowl; beat about 1 minute or until well mixed. Pour into greased 9-inch round baking pan. Dot preserves over batter. Sprinkle cereal mixture over preserves. Cut through topping into batter at regular intervals to give a marbleized appearance.
Bake at 350° F about 35 minutes or until wooden pick inserted near center comes out clean. Cut into wedges to serve.