Preheat oven to 350 degrees. Grease and flour either bundt pan or tube pan. Sprinkle pecans in bottom of pan. Add rest of cake ingredients to mixing bowl and beat according to cake's instructions. Pour on top of nuts, and bake about one hour (until a toothpick inserted in the center comes out clean). While cake is baking prepare glaze. Slowly melt butter, add sugar, water and liqueur together in small saucepan. Stir until disolved and slightly thickend, over low to medium heat, about 10 minutes, keep warm until cake is done. Invert cooked cake on to cake plate. Pierce the top with toothpicks or skewers and slowly drizzle glaze over top and sides of hot cake, let absorb glaze and repeat until all glazed is used. Allow to sit at least six hours before serving.