Combine 2 1/2 cups water and raisins in a heavy pan and bring to a boil. Boil until the water evaporates or is absorbed by the raisins. (watch carefully) Remove from heat. Add applesauce, eggs, sugar substitute, oil, and remaining water. Stir to combine. Sift together flour, cinnamon and soda, then gradually add to the applesauce mixture with vanilla, stirring after each addition. Spoon batter into a 10 inch Bundt pan coated with cooking spray. Bake at 350 degrees for 40-45 minutes or until a toothpick inserted comes out clean. Cool in pan for 10 minutes; remove from pan and cool on rack. Frost as desired. Makes 28 slices.