Adapted from "A Taste of the Virgin Islands" by Angela Spencely. The glaze is the secret; it freezes well and goes great on other cakes, so make double. The rum preserves the cake, so it travels well, too.
Preheat oven to 325°F Grease and flour a 10" tube pan, a 12-cup Bundt pan, or two mini-Bundt pans (mine has 6 wells which each hold 1 cup).
Sprinkle nuts evenly over the bottom of the pan/wells.
Whisk together dry cake mix, dry pudding mix and nutmeg. In another bowl, whisk together milk, oil, rum, eggs, and almond extract. Pour wet ingredients into dry and whisk together until just incorporated; do not over mix. Pour into pan, or divide evenly into mini-Bundt wells.
Bake large cakes 55-65 minutes, mini-Bundts 35-45 minutes, until a toothpick inserted halfway across comes out clean. Cool in pan 10 minutes, then remove to a rack until completely cool.
Meanwhile, combine butter and water in a small saucepan. Heat over medium heat until butter melts. Add sugar and bring to a boil, stirring often. Boil 5 minutes. Off heat, add rum and almond extract and stir to combine.
Poke top of cake with a skewer at frequent intervals. Spoon glaze over cake; repeat if moister cake is desired.