Preheat oven to 350° F. Grease and flour two 9-inch round cake pans. Line bottoms with wax paper.
Beat cake mix, eggs, water, mayonnaise and food coloring in large bowl with electric mixer on low speed 30 seconds, scraping bowl frequently. Beat on medium speed 2 minutes. Pour batter into prepared pans.
Bake for 30 to 35 minutes or until wooden pick inserted in center comes out clean. Cool 10 minutes; remove from pans. Immediately remove wax paper. Cool completely on wire racks.
Beat cream cheese and butter with electric mixer on medium speed until well blended. Gradually add sugar, beating well after each addition. Stir in pecans.
Spread cream cheese icing on top of one cake layer, place second layer on top and finish frosting entire cake.
Servings: 12