Combine first 3 ingredients. Add eggs; beat at medium speed with an electric mixer until smooth. Add butter and vanilla, beating well. Stir in pecans.
Spoon mixture into 8 greased 6-ounce custard cups or ramekins (see Note). Place cups in a large roasting pan; add hot water to pan to depth of 1". Cover pan with aluminum foil, and bake at 300° for 1 hour. Uncover pan, and remove cups from water. Let stand 10 to 15 minutes. Serve warm with Orange Cream. Garnish, if desired.
Note: If you don't have custard cups, baked fudge can be prepared in a greased 9" square pan. Cover and bake in water bath 1 hour and 15 to 20 minutes. Spoon into dessert dishes.