Heat oven to 350 degrees. Separate dough into 8 biscuits. Cut each biscuit into 4 wedges. Roll each wedge into a ball. Place 1 inch apart on ungreased cookie sheet. Bake 13 to 17 minutes until light golden brown. Cool for 5 minutes on cooling rack. Meanwhile in food processor, place pecans. Process 15 seconds until they are ground. Transfer nuts to a shallow dish. Place coconut into another shallow dish. In small bowl combine powdered sugar, vanilla, rum extract, vanilla extract and butter flavoring and milk. Beat with wire whisk until blended and smooth.
Line cookie sheet with parchment paper When cooled, dip half of each pepper in glaze allowing glaze to drip off before dipping glazed portion into nuts. Place on lined cookie sheet. Put into freezer for about five minutes to set glaze. Dip the uncoated side of each pepper into glaze, allowing excess glaze to drip off before dipping in into coconut. Place on cookie sheet. Let stand five minutes for glaze to set. Keep tightly covered in refrigerator until ready to eat.