Heat oven to 375°F. Spray 9-inch round cake pan with cooking spray. Spread caramel topping evenly over bottom of pan. Sprinkle with nuts and coconut.
Separate dough into 8 rolls; set icing aside. Place rolls on top of mixture in pan.
Bake 26 to 30 minutes or until deep golden brown. Turn pan upside down onto heatproof serving plate. Cool 5 minutes.
Remove cover from icing; microwave on Medium (50%) 5 to 10 seconds or until thin enough to drizzle. Drizzle over warm rolls. Serve warm.