Preheat oven to 325º
Grease and flour 10" tube pan or 12 cup bundt pan.
Sprinkle nuts into bottom of the pan.
In a Large bowl mix together cake mix, pudding mix, vegetable oil and dark rum.
Pour batter over the nuts in pan.
Bake 1 hour or until pick inserted into cake comes out clean.
In a medium sauce an, melt butter over medium-high heat.
Stir in water and sugar, boil for 5 minutes stirring constantly.
Remove from heat and stir in rum.
Before serving prick the top of the cake with a fork. Pour or brush glaze over cake, allowing cake to absorb glaze.