Position oven rack in lower part of oven. Heat oven to 350 degrees F. Grease 8 x 8 x 2-inch square baking pan.

Combine nuts and pineapple in small bowl.

Melt butter in small saucepan. Remove 2 tablespoons of the melted butter to a small cup and reserve. Add brown sugar, corn syrup and water to butter remaining in saucepan. Bring to boiling; cook 30 seconds, stirring to dissolve sugar. Pour into prepared baking pan. Scatter glace cherries over brown sugar mixture; sprinkle nut-pineapple mixture over top.

Stir together the flour, baking powder and salt on a sheet of waxed paper.

Beat eggs in large bowl on medium speed until foamy, about 30 seconds. Gradually add sugar, beating constantly. Beat in flour mixture just until blended. Add milk, reserved melted butter and the vanilla; beat until blended. Pour into prepared pan.

Bake in lower part of 350 degrees F oven for 35 minutes or until a wooden pick inserted in the center comes out clean. Immediately run a thin metal spatula around the edge of the pan to loosen the cake. Cool cake in pan on a wire rack for 15 minutes. Invert the cake onto the wire rack and remove the pan. Replace any nuts or cherries that have fallen off. Cool cake for 10 minutes. Serve warm or cool completely before serving.