Cake: Preheat oven to 325 degrees. Grease and flour 10-inch tube or 12-cup bundt pan. Sprinkle nuts over bottom of pan. Mix together cake mix, eggs, 1/2 cup water, oil, and 1/2 cup rum. Pour batter over nuts. Bake 1 hour. Cool. Invert on serving plate. Prick top. Spoon and brush glaze evenly over top and sides. Allow cake to absorb glaze. Repeat until glaze is used up. Glaze: Melt butter in medium sauce pan. Stir in 1/4 cup water and sugar. Boil 5 minutes, stirring constantly. Remove from heat. Stir in 1/2 cup rum. Tips: Chop nuts really fine, the glaze goes through it easier. To prick top and sides, use something long that will go almost to the bottom of the cake. Remember to do the outside and inside at an angle so the glaze goes all the way in. Make extra glaze, keep warm in small crock pot (not boiling). People love it and want extra on their servings.