Start by making the frosting. In an electric mixer combine the cream cheese, powdered sugar, cream, and vanilla. Mix on a medium speed, until the frosting is smooth, stopping to scrape down the sides of the bowl as necessary. Set the frosting aside as you make the pancakes.
Whisk the cake mix, vegetable oil, water, and eggs together.
I used a really great non stick pan, so I didn't need to grease the pan, but you might want to butter your pan first. Make the pancakes using about 3 tablespoons of cake mix per pancake. Heat the pan over medium low, and flip the pancakes once air bubbles form, this will take about 2 minutes. Then let the second side of the pancakes brown, it will also take about 2 minutes.
Continue making pancakes until all of the batter has been used up.
Top the pancakes with the frosting and chopped pecans.