In a large bowl, dissolve yeast in water. Add the milk, butter, sugar, salt, eggs and 2 cups flour; beat on low speed for 3 minutes. Stir in enough remaining flour to form a soft dough.
Turn onto a floured surface; knead until smooth and elastic, about 6-8 minutes. Place in a greased bowl, turning once to grease top. Cover and let rise in a warm place until doubled, about 1 hour.
Punch dough down, Turn onto a lightly floured surface; divide in half. Roll each portion into a 20x10-in. rectangle. Spread with butter; top with preserves and pecans. Combine sugar and cinnamon; sprinkle over the top.
Roll up jelly-roll style, starting at a long end. Pinch seams to seal and tuck ends under. Place seam side down on a greased baking sheet, curving ends to make a "U" shape. With scissors, make cuts every 1-1/2 in.
Cover and let rise in a warm place for 45 minutes. Bake at 350° for 25-30 minutes or until golden brown. Remove from pans to wire racks. Combine the glaze ingredients; drizzle over warm coffee cakes. Cool.