Preheat oven to 375 degrees. Butter 12 cup bundt pan.
With an electric mixer beat the cake mix with the water, oil and eggs, adding the orange zest to batter. Pour into prepared pan and bake 35-45 minutes or until tooth pick inserted in center comes out clean.
Meanwhile, make syrup:
Heat orange juice, sugar and Tabasco sauce in a medium saucepan. Bring to a boil and reduce heat; simmer uncovered for 5 minutes. Remove from heat, and reserve 1/4 cup of this syrup for glaze.
Remove cake from oven. With a wooden skewer, poke holes in cake in several places, without removing it from pan. Spoon the syrup evenly over cake. Cool cake in pan 10 minutes.
Carefully invert cake onto a wire rack to cool completely.
Combine reserved syrup and confectioner's sugar in a small bowl until smooth. Place cake on a platter and spoon glaze over cake to decorate. Garnish with orange peel curls, if desired.