Preheat oven to 350°F, spray the bottoms of three 8-inch round cake pans then line with parchment paper; set aside.
In a medium bowl, whisk together the flour, soda and salt; set aside.
In a medium bowl, use a mixer to beat the egg whites on high speed until stiff peaks form; about 3-4 minutes; set aside. Be sure your beaters and bowl are clean and free of any oil.
In a large bowl combine the shortening, sugar and extracts. Mix on med-high speed for 3-4 minutes.
Scrape the sides of the bowl then add the egg yolks. Mix on medium speed until well blended; about 1-2 minutes.
Scrape the sides of the bowl again. Alternate adding the flour mixture and the buttermilk, mixing on low after each addition until all has been added.
With a spatula, fold in the whipped egg whites until no white can be seen. Fold in the coconut and pecans.
Divide the batter evenly into each prepared pan and bake for 25-30 minutes or until a toothpick inserted in the center comes out clean.
Allow to cool for 10-15 minutes then run a knife around the outside of the cakes and invert them onto a wire rack and remove the parchment paper to allow the cakes to cool completely.
Frosting:
In the bowl of a mixer, cream together the shortening, cream cheese, extracts and salt on medium speed, scraping the bowl as needed, until smooth and creamy.
Add the powdered sugar on low speed, 1 cup at a time, blending after each addition.
Add the milk and mix until well blended.
If you want the frosting to be thinner, add more milk, 1 tablespoon at a time until the desired consistency has been reached.
Store in an airtight container.
Assembly
Use a serrated knife to cut off any domed tops, making each layer level.
Place one layer on a platter and cover the top with frosting. Smooth out the frosting to make a nice even layer.
Top and repeat with the second layer, followed by adding the top layer.
Dollop a generous amount of frosting onto the top and sides of the cake. Use the offset spatula to frost a crumb coat over the cake. Refrigerate for 30 minutes.
Add more frosting to the top and sides and smooth out. Press toasted coconut onto the sides of the cake with your hands.
Transfer the cake to a clean platter or cake stand (a long grilling spatula works well for this).
Use remaining frosting to decorate around the base and the top border. Garnish the top with pecans.
