Preheat oven to 350°F (175°C). Grease a 9x13-inch baking pan.
Prepare the butter pecan cake mix according to the package instructions using the eggs, water, and oil.
Pour the batter into the greased pan and bake for 28-32 minutes or until a toothpick comes out clean.
Let the cake cool for about 10 minutes, then poke holes all over the top using the handle of a wooden spoon.
Pour the sweetened condensed milk over the cake, letting it seep into the holes.
In a small saucepan over medium heat, melt the butter. Stir in the coconut pecan frosting and chopped pecans until smooth.
Pour this warm praline topping evenly over the cake.
Let the cake cool completely before slicing. Serve chilled or at room temp.