1Preheat oven to 325 degrees
Grease and flour a bundt pan or a 10" tube pan
Sprinkle nuts over bottom of pan
Mix all cake ingredients together
Pour batter over nuts and bake 1 hour in preheated oven
Cool and invert onto serving dish
Prick top of cake with fork
Drizzle and smooth glaze evenly over top and sides of cake
Allow cake to absorb glaze
Repeat until all of glaze is used up
Melt butter in small saucepan
Stir in water and sugar and boil 5 minutes stirring constantly
Remove from heat and stir in rum.
Serve with seedless green grapes, dusted with powdered sugar.
Tastes meld and cake is better the day after making