1. Preheat oven to 350. Butter and flour a 12-cup Bundt pan and sprinkle the bottom of the pan with 1/4 cup pecans. Set aside.
2. In the bowl of a stand mixer or a medium mixing bowl, beat the sugar, oil, and honey at medium speed until well blended. Add eggs, 1 at a time, beating just until blended.
3. In a medium mixing bowl, combine flour, baking soda, salt and nutmeg. Gradually add to sugar mixture, beating at low speed just until blended. Stir in vanilla, remaining 3/4 cup pecans, and apple. Spoon over pecans in Bundt pan. Bake for 55-60 minutes, or until a cake tester comes out clean. Cool in pan on a wire rack for 15 minutes. Remove from pan and place on a rack over wax paper. Pour 1/2 cup honey sauce over warm cake. Allow to cool. To serve, heat the remaining honey sauce and, if desired, serve with the cake and ice cream.