In a blender, combine orange juice and strawberries; cover and process until blended. Press mixture through a fine meshed sieve; discard seeds.
In a large saucepan; combine cornstarch and grape juice until smooth. Stir in strawberry puree and jam. Bring to a boil over medium heat; cook and stir for 2 minutes or until thickened. Reduce heat; add honey. Simmer, uncovered, for 10 minutes.
Transfer to a bowl; cover and refrigerate until chilled. Garnish with whipped topping and orange peel if desired.