1Heat oven to 350°. Grease and flour loaf pan, 9x5x3 inches. Beat eggs in large bowl with electric mixer on high speed until very thick and lemon colored. Gradually beat in sugar. Beat in flour, baking powder and salt on low speed. Gradually beat in water. Stir in 3 tablespoons of the orange marmalade. Pour into pan.
2Bake 35 to 40 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove from pan to wire rack. Cool completely.
3Mix remaining 2 tablespoons marmalade and 2 cups of the whipped topping. Cut loaf horizontally to make 3 equal layers. Spread 1/4 cup of the raspberry preserves over each layer; spread each of the bottom 2 layers with 1 cup of the whipped topping-marmalade mixture. Stack layers. Spread remaining whipped topping on top of torte. Top with raspberries and orange peel. Store covered in refrigerator.