Preheat oven to 350 degrees F (175 degrees C). Butter and flour two 9 inch round pans.
Sift together the flour, baking powder, cinnamon, clove, and nutmeg.
In a large bowl, cream together the butter or margarine and sugar; add egg yolks, and beat until smooth. Mix in flour mixture in parts alternately with milk. Stir in coconut, pecans, and raisins.
In a clean bowl, beat egg whites until stiff peaks form. Fold into batter, and then pour batter into prepared pans.
Bake for 25 minutes, or until done. Cool layers on wire racks.
In a medium saucepan, combine the sugar, water, flour, lemon and orange. Cook over medium heat until thickened. Stir in coconut and cook for 2 minutes. Allow to cool, and then ice cake. Alternate pecan halves and maraschino cherries halves around top of cake to form a pinwheel.