In a mixing bowl mix together cake mix, milk, water, spices and eggs. Fold in coconut, walnuts, and morsels. Pour into a sprayed cake pan and cook in preheated 350 degree oven for 45 to 55 minutes until center is done. Let cool 15 to 20 minutes before removing from pan.
Frosting Instructions
Whisk together ingredients and microwave until pourable from a pitcher. Pour over cooled cake. I used only half the can to do a drizzle-type frosting on this cake. Use the entire can to frost the entire cake. (Note: If using a regular cake pan and not a bundt pan, just spread the frosting over the cake). (Note: If using a regular cake pan and not a bundt pan, just spread the frosting over the cake).
Notes
You could use vanilla extract instead of rum. You could also use rum extract. You could also add coconut to the icing or sprinkle it on top of the cake once it is iced.