Preheat oven to 350*
Place 1 cup coconut in a baking pan. (I like to use a little 9" round one)and toast coconut as the oven preheats. Stir coconut every few minutes and remove from the oven once it is toasted and golden brown. Set aside for use later.
Place the cake mix in a large mixing bowl (or in the bowl of a standing mixer). Add cream of coconut, eggs, buttermilk and vanilla and mix well, scraping down sides of bowl once or twice during mixing.
Line a 9x13" cake pan with a piece of wax paper. Pour batter into the pan. Place cake in the oven and bake for 20-24 mins. or until cake springs back to the touch. Remove from the oven and let cool in the pan.
Crumble cake into a large bowl
Make the frosting: In a standing mixer, cream the butter and the cream cheese until fluffy. Add 1 cup of the powdered sugar, sifting it into the mixer bowl and mix well. Add the cream of coconut, vanilla and coconut flavoring, salt and mix well. Add another cup of the powdered sugar and beat until fluffy. Add more powdered sugar if needed to stiffen frosting to spreadable consistency.
Use a spatula to mix the frosting into the cake crumbs. Fold in the toasted coconut. Add 2-3 tbsp of rum if desired.
Shape mixture into 1" balls and place them on a cookie sheet. Chill or freeze cake balls until firm.
Place Dark chocolate chips and vegetables oil in a medium heat proof bowl that will fit over a saucepan holding a couple inches of simmering water (or use a double boiler). Dont let the bottom of the bowl touch the boiling water. It should rest just above it. Melt chocolate over the simmering water, stirring from time to time.
Using a fork, lower the cake balls into the chocolate one at a time until covered with chocolate. Lift the cake balls out of the chocolate letting the excess chocolate drip off. Sprinkle truffles in the remaining coconut and let cool on wax paper. Store in refridgerator but serve at room temperature.