Prepare cake according to directions on box. Bake the 2 layers and cool. Place 1 layer on bottom of punch bowl. Pour 1/2 of pudding on cake, 1/2 pineapple and remaining juices, 1/2 of cherries and fruit cocktail, 1/2 Cool Whip, 1/2 of nuts and 1/2 of coconut. Add last cake layer and repeat with remaining ingredients. Let stand in refrigerator at least overnight before eating.
Strawberries can be substituted for cherries.