Combine all ingredients except walnuts in a small saucepan; bring to a boil. Boil mixture, stirring constantly, 3 minutes. Remove from heat, and stir in chopped walnuts. Pour over cake while glaze is warm. Yield: 1-1/4 cups.
Ingredients
1/4 c Plus 2 tb butter or margarine
3/4 c Sugar
3 tb Rum
3 tb Water
1/2 c Walnuts; chopped