Make cake: Preheat oven to 350°F. Lightly butter a 10-inch tube pan. Coat lightly with flour and tap out excess.
Heat butter and cream in a small saucepan over low heat, stirring until butter is melted. Remove from heat and let cool.
In a large bowl, beat eggs and granulated sugar with an electric mixer on high speed until fluffy, about 5 minutes. Add baking powder and salt and mix on low speed until blended. Add half of flour and entire cooled cream mixture; mix on low speed until blended. Add remaining flour and beat on medium speed for 2 minutes; mixture should be thick and gooey. Stir in orange peel and then fold in cranberries. Scrape batter into prepared pan and smooth top.
Bake until a tester inserted in center comes out clean, about 1 hour. Let cool in pan for 15 minutes, turn out onto a rack and let cool completely.
Make glaze: Combine confectioners' sugar and salt in a medium bowl. Add water, corn syrup and vanilla and stir with a fork until smooth. Drizzle glaze over cake, letting some drip down sides. Let stand for 15 minutes before serving.