1Heat oven to 350°F (325°F for dark or nonstick pans). Grease or lightly spray bottoms only of three 9-inch round cake pans.
2In large bowl, beat cake mix, water, oil and eggs with electric mixer on low speed 2 minutes (do not overbeat). Pour into pans.
3Bake 15 to 22 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove from pans. Cool completely, about 1 hour.
4Fill layers with raspberry preserves. To make frosting, in medium bowl, beat butter, lemon peel and lemon juice on medium speed 30 seconds. Gradually beat in powdered sugar. Beat 2 to 3 minutes longer or until light and fluffy. Frost side and top of cake with frosting. Store covered in refrigerator.