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In a mixing bowl, combine dry cake and pudding mixes, eggs, water and oil. Beat on medium speed for 2 minutes. Pour into a Pam sprayed 10-inch fluted tube pan. Bake at 350 degrees for 35-40 minutes or until a toothpick inserted near the center comes out clean. Cool on a wire rack for 6-8 minutes. Meanwhile, for glaze, combine butter and orange juice in a small bowl; stir in powdered sugar until smooth. Remove cake from pan to a serving platter; poke holes in cake with a meat fork. Slowly drizzle with fork. Cool completely.
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