Place nuts in a greased 10" tube pan. Mix cake mix and remaining ingredients together. Pour over nuts and bake at 325 degrees for 1 hour.
For Glaze: melt butter in a pan. Stir in water and sugar. Boil for 5 minutes, stirring constantly. Remove from heat. Stir in rum.
After the cake has cooked, prick the top with a fork or knife. Pour the glaze over the cake. Allow the cake to absorb the glaze. Repeat until the glaze is gone.