Prepared pudding as directed on package for pudding; fold in 1 cup of the whipped topping. Cut sponge cake into 1 1/2-inch cubes; place in a 1 1/2 quart serving bowl. Sprinkle orange juice over cake cubes. Add water to preserves; spoon over cake cubes. Top with macaroon crumbs then spoon in pudding mixture, completely covering cake cubes. Chill thoroughly, at least 2 hours. Top with remaining whipped topping and garnish with toasted slivered almonds, if desired.
*To toast nuts, spread out in a single layer on a baking sheet. Toast in a 350° oven, stirring occasionally, for 10 to 15 minutes. Or, toast in an ungreased skillet over medium heat, stirring, until golden brown and aromatic.