Delightfully Delicious Caramel Fudge Cake

1 (14 oz) package caramels, unwrapped
1 (14 oz) can sweetened condensed milk (not evaporated)
1 1/4 cups shortening, divided
2 cups flour
1/2 cup unsweetened cocoa
1 tsp baking soda
1/4 tsp salt
2 cups sugar
2 eggs
1 cup water
1/2 cup buttermilk or sour milk
1 1/2 tsp vanilla
1 1/2 cups coarsely chopped pecans

Preheat oven to 350 F.  Grease and flour a 13 x 9 inch baking dish.  In a heavy saucepan, combine caramels, sweetened condensed milk, and 1/2 cup shortening.  Over medium heat, cook and stir until melted and smooth.  In a medium bowl, combine flour, cocoa, baking soda, and salt.  In a large bowl, beat sugar and remaining 3/4 cup shortening until fluffy.  Beat in eggs.  In a small bowl, combine water, buttermilk, and vanilla.  Add alternately with the flour mixture.  Beat well. 

Spread half the batter into the prepared baking dish.  Bake for 15 or until the center is set.  Spoon the caramel mixture evenly over the bottom layer.  Spread remaining batter over caramel layer.  Sprinkle with the chopped nuts.  Bake for 40 minutes or until the cake springs back when lightly touched.  Loosen from the sides of the baking dish while still warm.  Cool completely.