Prepare cake as directed. Pour batter into a 9x13 lightly greased cake pan. Bake as directed. Toss the sliced strawberries with the 1/4 cup granulated sugar; set aside.
Allow cake to cool.
Mix pudding with milk; beat in cream cheese. Spread over the cake. Place strawberries with sugar in colander to remove juice. Spoon strawberries over pudding mixture, followed by the cool whip. Sprinkle nuts over cool whip. Top with strawberries, cut side down. Keep refrigerated until ready to serve.