Heat oven to 350 degrees. Heat butter in a round, 9x1 1/2 inch pan in oven until butter is melted. Remove pan from oven. Sprinkle 1/4 cup sugar evenly over melted butter. Arrange raspberries with open ends up over sugar mixture; sprinkle with nuts.
Beat remaining ingredients in medium size bowl on low speed for 30 seconds, scraping bowl constantly. Beat on medium speed 4 minutes, scraping bowl occasionally. Pour batter over raspberries.