Cut 10 (1/2-inch-thick) slices from cake. Arrange slices in a single layer on bottom of a 9-inch springform pan, trimming as needed to snugly cover pan. Save remaining cake for another use.
Stir together vanilla ice cream and blueberry preserves in a medium bowl. Spread blueberry ice-cream mixture over cake slices. Cover and freeze 1 hour.
Stir together softened raspberry sorbet and raspberry preserves in a medium bowl. Spread raspberry sorbet mixture over blueberry ice-cream mixture. Cover and freeze 3 hours to 2 days.
Process frozen raspberries, honey, and 2 Tbsp. water in a blender until smooth. Press raspberry mixture through a wire-mesh strainer using the back of a spoon. Discard pulp and seeds. Chill until ready to serve.
Just before serving, beat cream and sugar at medium speed until soft peaks form. Gently run a sharp knife around edge of cake to loosen. Remove springform pan. Spread whipped cream over frozen cake. Drizzle with raspberry-honey sauce.
Note: We tested with Sara Lee All Butter Pound Cake, Bonne Maman Raspberry Preserves, Smucker's Orchard's Finest Northwoods Blueberry Preserves, and Whole Fruit Raspberry Sorbet.