1Heat oven to 350°F. Grease and flour 10-inch angel food cake (tube) pan or 12-cup fluted tube cake pan.
2In large bowl, beat all Cake ingredients except pecans with electric mixer on low speed 30 seconds, scraping bowl constantly. Beat on high speed 3 minutes, scraping bowl occasionally. Stir in pecans. Pour into pan.
3Bake 60 to 65 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove from pan to wire rack. Cool completely, about 1 hour.
4In 2-quart saucepan, melt 1 ounce chocolate and 1 teaspoon butter over low heat, stirring occasionally. Stir in powdered sugar and water until smooth and thin enough to drizzle. Drizzle cooled cake with Chocolate Glaze.