Walnut Oatmeal Cake with Coconut

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1 cup rolled oats (not instant)

1 1/4 cups boiling water

8 tablespoons (1 stick) unsalted butter, softened at room temperature

1/2 cup sugar

1 cup light brown sugar, packed

2 eggs

1 teaspoon pure vanilla extract

1 1/2 cups flour

1 teaspoon baking soda

1 teaspoon cinnamon

1/4 teaspoon nutmeg

1/2 teaspoon salt

Topping, recipe follows

Topping:

10 tablespoons cold unsalted butter, cut into pieces

2/3 cup light brown sugar, packed

1/4 cup heavy cream

2/3 cup chopped walnuts or pecans

1 cup packed shredded or flaked sweetened coconut