RAIN STRAWBERRIES, RESERVING 1/2 CUP JUICE. CHOP THE STRAWBERRIES; SET JUICE AND BERRIES ASIDE.
IN A LARGE BOWL, CREAM BUTTER AND SUGAR UNTIL LIGHT AND FLUFFY. ADD EGGS, ONE AT A TIME, BEATING WELL AFTER EACH ADDITION. COMBINE THE DRY INGREDIENTS; ADD TO CREAMED MIXTURE ALTERNATELY WITH BUTTERMILK AND MIX WELL. STIR IN THE PECANS, CHOPPED STRAWBERRIES AND EXTRACT.
POUR INTO A GREASED AND FLOURED 10-IN. FLUTED TUBE PAN. BAKE AT 325° FOR 1-1/4 HOURS OR UNTIL A TOOTHPICK INSERTED NEAR THE CENTER COMES OUT CLEAN. COOL FOR 10 MINUTES; REMOVE FROM THE PAN TO A WIRE RACK.
IN A SMALL SAUCEPAN, COMBINE THE BUTTER AND RESERVED STRAWBERRY JUICE. ADD THE SLICED STRAWBERRIES. BRING TO A BOIL; COOK AND STIR FOR 1 MINUTE. REMOVE FROM THE HEAT; STIR IN EXTRACTS AND CONFECTIONERS SUGAR. GLAZE WARM CAKE.