In a bowl, beat 2 cups sugar with oil and and 2 eggs at high speed of an electric mixer, for 1 minute.
Combine flour, baking cocoa, baking powder, baking soda and salt.
In another small bowl, combine the coffee with the buttermilk.
Add the flour mixture and the coffee mixture to the oil mixture; beat at medium speed for 3 minutes.
Stir in nuts and 1 tsp vanilla.
Pour half of the cake mixture into the prepared bundt pan.
in another bowl, beat cream cheese at medium speed until fluffy; gradually add in 1/4 cup sugar, and the remaining egg; beat just until blended.
Stir in remaining 1 tsp vanilla, coconut and chocolate chips.
Spoon over cake batter in pan, leaving 1/2-inch border around the center and the edge of the pan.
Top with remaining cake batter.
Bake for 1 hour and 10 minutes, or until cake tests done.
Cool in the pan on a wire rack for 15 minutes.
Remove from pan; cool completely on wire rack.
To make glaze: Melt the butter in a saucepan over low heat; stir in powdered sugar, and 1 Tbsp water and the 2 tsp vanilla, mix until smooth, adding more water if necessary to achieve desired consistancy for glaze.