Blend dry cake mix, dry pudding mix, 1/2 cup water, 1/2 cup rum, oil and eggs for 2 minutes. Spray a bundt or tube pan with a non stick cooking spray. Bake in preheated 325 degree oven for an hour. Prepare hot sauce just before the cake is finished baking. In heavy frying pan heat 1 cup sugar, 1/4 cup water, 1/4 cup rum, oleo, and raisins. While stirring, boil mixture for 2 - 3 minutes. Remove cake from oven. While in pan, slowly pour hot sauce over cake and let the cake cool in the pan for 30 minutes before flipping onto cake plate.