In a small bowl, add the raisins and cranberries. Add boiling water to cover the dried fruit and let sit so the dried fruit absorbs the hot water and they soften for about 15 minutes.
In a bowl, add the warm water (no hotter than 105º), yeast, and 2 teaspoons of the sugar. Allow the yeast to proof for 5-10 minutes. You want the yeast to get very bubbly.
Grab a large bowl, add your dry ingredients and whisk to blend.
In a medium-sized bowl, add your wet ingredients including the orange zest. Whisk to blend.
Pour the yeast mixture into the wet ingredients and mix.
Now, pour all of the wet ingredients into the dry ingredients. Add the raisins and cranberries. Mix well.
Cover the bowl and allow to rise overnight, or for at least 4 hours. Note the batter is going to be a lot wetter than a normal panettone dough. I have tested multiple doughs and the more firm the dough, the more brick-like the bread turns out so please make sure your batter consistency matches the photo in the blog post above.
Set your molds into a pan. When you are ready to bake the panettone, fill your molds about ⅔ with the batter. Allow rising 30 minutes to 1 hour.
Preheat the oven to 350º F.
Place the pan with the panettone into the oven. Bake for 45 minutes.
To test for doneness, insert a toothpick into the center of the panettone. If the toothpick comes out clean, it is done baking. If you see batter or crumbs, it needs to bake longer.
When it is finished baking, remove and put the loaves on a cooling rack. When the loaves are cool, dust with powdered sugar. Peel the paper mold off each loaf and serve.