Melt butter and mix in flour and pecans. Press into a 9" pie plate. Bake at 350 degrees for 15 minutes and let cool.
Combine powdered sugar, cream cheese and 1 cup Cool Whip and spread on COOLED crust. Using a wire whisk, mix the pudding and cold milk together and spread over the cream cheese layer. Top pudding mix with 1 cup Cool Whip. Refrigerate until chilled. This can be made the night before.
Note: Before covering the pie, insert toothpicks into pie to keep the plastic wrap off the whipped topping.