Preheat oven to 350 degrees.
Grease and flour a 10" tube pan or 12 cup bundt pan.
Chop nuts and sprinkle evenly over bottom of the pan
Mix remaining cake ingredients together until blended. Pour tater over nuts. Bake on middle rack 50-60 minutes.
While cake is baking prepare glaze: melt butter in heavy sauce pan. Add water and sugar. Boil for 5 minutes stirring constantly. Allow to cool. Stir in rum.
Remove cake from pan and allow to cool for 10 minutes. Loosen edges of cake from pan and invert onto dish with nut side up. Pierce butted top with fork and drizzle glaze over cake.
Allow cake to sit at least 24 hours to absorb glaze.
Variations: use different pudding flavor and or flavored rum.
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