Preheat the oven to 325°F. Grease and flour a 12-cup Bundt® pan or two loaf pans. Sprinkle all the nuts on the bottom of the pan. Mix all the remaining cake ingredients and beat with an electric mixer for about 2 minutes. Pour the mix into the pan(s). Bake for 1 hour. Remove from oven and let cool for 20 minutes. To remove the cake, invert on a serving plate. Use a fork and make many holes in the top about 1 inch deep.
Melt the butter in a saucepan. Stir in water and sugar. Boil for 4-5 minutes and stir constantly. Turn off heat and stir in ½ cup of rum. Be careful not to ignite the rum vapors. Drizzle the warm glaze over the top of the cake, on the nuts and into the holes so it soaks into the cake. The longer it sits, the better the rum glaze soaks into the entire cake. Slice generous portions and serve at room temperature.
This cake stays moist for a long time, the rum preserves it and can even be frozen for months without degradation.
"Rum" - A distilled alcoholic beverage made from fermented sugarcane juice and molasses, aged in oak to give it character and color. A product of the West Indies for years, it was shipped for centuries to the British Isles and northern France (especially Honfleur where "grog" is popular). Some rums are "overproofed" and 151 Rum (75.5% alcohol) is twice as potent as normal ones.