Prepare cake mix according to package directions. Pour into a greased 15x10x1-in. baking pan. Bake at 350° for 20-25 minutes or until cake tests done; cool completely.
In a large bowl, combine milk and pudding mixes; beat in cream cheese until smooth. Fold in whipped topping. Spread over cooled cake. Top with the pineapple, cherries, coconut and walnuts. Store in the refrigerator.