Step 1: Preheat oven to 375 degrees. Grease and flour a 9 x 13 pan. Or if you prefer, an 11 x 17 pan for thinner "brownie" cake. See bake time for larger pan below.
Step 2: Either on stove-top or in microwave, combine butter, shortening, cocoa and water and heat to boiling.
Step 3: Meanwhile, in mixing bowl, combine sugar and flour. Add hot mixture and mix to combine, then add remaining ingredients, beating until well blended.
Step 4: Pour into prepared pan and bake for 40-45 minutes, or until done. Prepare glaze before cake is done, it must be poured on cake immediately after removing from oven.
Step 5: Glaze:
Step 6: Five minutes before cake will be done, combine butter, cocoa and buttermilk and heat to boiling.
Step 7: Pour hot mixture into mixing bowl, add powdered sugar and vanilla and beat until smooth. Pour over cake and sprinkle with nuts right away.
Step 8: For Larger Pan:
Step 9: You will only need to bake the cake for about 25 minutes or until done.
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