1. Heat oven to 350°F. Grease bottom only of 8- or 9-inch square pan with shortening, or spray with cooking spray.
2. In large bowl, beat cake mix, water, 1/2 cup butter, cinnamon, nutmeg, 2 teaspoons vanilla and eggs on low speed 30 seconds. Beat on medium speed 2 minutes, scraping bowl occasionally. With spoon, stir in carrots and pecans. Spread in pan.
3. Bake 36 to 41 minutes for 8-inch pan or 33 to 38 minutes for 9-inch pan or until toothpick comes out clean. Cool completely, about 1 hour.
4. In large bowl, beat cream cheese, 2 tablespoons butter, 1/2 teaspoon vanilla and 1 teaspoon milk with electric mixer on low speed until smooth. Gradually beat in powdered sugar, 1 cup at a time, until smooth and spreadable. If frosting is too thick, beat in more milk, a few drops at a time. Stir in coconut. Spread frosting over cake.
1 Serving: Calories 420 (Calories from Fat 140); Total Fat 16g (Saturated Fat 9g, Trans Fat 0g); Cholesterol 90mg; Sodium 310mg; Total Carbohydrate 66g (Dietary Fiber 0g, Sugars 48g); Protein 3g Percent Daily Value*: Vitamin A 40%; Vitamin C 0%; Calcium 2%; Iron 2% Exchanges: 1 Starch; 3 1/2 Other Carbohydrate; 0 Vegetable; 3 Fat Carbohydrate Choices: 4 1/2
*Percent Daily Values are based on a 2,000 calorie diet.