Place chopped pecans in a single layer in a shallow pan.
Bake at 350° for 6 minutes or until lightly toasted.
Bring butter and brown sugar to a boil in a 3 1/2-qt. saucepan over medium heat, whisking constantly (about 2 minutes). Remove from heat, and slowly whisk in buttermilk.
Return mixture to heat, and bring to a boil. Pour into bowl of a heavy-duty electric stand mixer. Gradually add powdered sugar and vanilla and almond extracts, beating at medium-high speed until smooth (about 1 minute). Stir in pecans. Use immediately.