Combine water, butter, and liquid shortening in a saucepan.

Heat to a simmer, then remove from heat.

In a mixer, combine sugar, flour, cocoa, baking soda, and cinnamon.

Mix the dry ingredients.

Slowly add the hot liquid ingredients to the dry ingredients while mixing.

Once combined, add buttermilk, eggs, and vanilla.

Pour the batter into a greased and floured bundt pan.

Bake at 350 degrees Fahrenheit for 50 minutes or until firm.

Let the cake cool completely.

To prepare the frosting, bring margarine, sugar, and evaporated milk to a boil in a saucepan.

Boil for 3 1/2 minutes.

Remove from heat and add chocolate chips.

Beat until the frosting thickens.

Add chopped pecans to the frosting.

Pour the frosting over the cooled cake.