Preheat oven to 300F (non-convection/not fan-assisted). Have ready a 10-cup bundt pan.
Add the raisins to a medium bowl and cover with very hot or boiling water. Stir, then let stand at least 15 minutes. Drain and pat dry before using.
In a medium bowl, whisk together the flour, baking powder and cinnamon. Set aside.
In another medium bowl, stir together the gumdrops, drained and dried raisins and walnuts. Set aside.
In the bowl of a stand mixer fitted with the paddle attachment or in a large bowl with an electric mixer, cream together the butter and white sugar on medium speed until light and fluffy, about 2 minutes. Add the eggs one at a time, beating in well after each addition. Scrape down the bowl well and remix. Add the applesauce and baking powder mixed with the water and mix in well.
With the mixer on low, spoon in the flour mixture and mix just until well combined. Remove from the mixer and scrape down the bowl.
Add the gumdrop mixture to the bowl and use a spatula to fold the gumdrop mixture into the batter, distributing the gumdrop mixture evenly through the batter.
Spray the bundt pan with baking spray. Spoon the batter into the bundt pan and level the top.
Bake the cake in the preheated oven for 1 hour 20 minutes - 1 hour 40 minutes or until a tester tests clean. In my oven it is usually about 1 hour and 30 minutes. Be sure to test in several spots as the tester may not be hitting much of the cake part.
Remove from the oven and allow the cake to cool in the bundt pan for exactly 10 minutes, then invert the pan onto a cooling rack to cool completely. *This cake takes a long time to cool. Count on 3 hours of cooling time.
Once cooled you can wrap the cake well and store at room temperature for 2-3 days. This cake will also freeze well for up to 3 months.
Notes
Note 1:Baking gumdrops are specially formulated gumdrops made to withstand the heat of baking. Baking gumdrops are easily available here in Canada at Bulk Barn, where they are called "Baking Gums". They are smaller and harder than regular gumdrops and don't include any black ones. They used to be found in with the baking ingredients (near the chocolate chips) in my store, but this year, I found them over in the candy section near the regular gumdrops.I highly recommend using baking gumdrops for best results. Regular gumdrops are likely to melt into the cake, which will give you the flavour perhaps, but not the same finished look. If you want to try regular gumdrops, seek out very firm ones, be sure they aren't sugared or sour and remove any black gumdrops from the mix. Cut the rest of the regular gumdrops into halves or quarters, depending on the original size.Be sure to read the notes above this Recipe Card where you'll find substitution suggestions, recipe tips and step-by-step photos that you might find helpful.