Preheat the oven to 325 degrees. Grease and flour a Bundt pan; sprinkle the nuts in the bottom of the pan.
In a large bowl, combine the cake mix, Jello, eggs, oil and wine. Beat at low speed for 2 minutes. Pour in the Bundt pan and bake for 45-50 minutes.
Bring 1 cup powdered sugar, wine and butter to a boil; the glaze will be really thin. While the cake is still warm and in the Bundt pan, poke holes in the top with a large fork at about 1” intervals. Pour half of the glaze on the cake. Let the cake sit for 30 minutes to absorb the glaze.
Turn the cake out of the pan and completely cool.
Thicken the remaining half of the glaze with additional powdered sugar (approx. 1 cup, depending on how thick you want it) and drizzle over the cake.
NOTE: The chopped nuts are optional, but they really do add to the flavor of the cake.