Preheat oven to 400 degrees F.
Spray a 15x10x1 inch baking sheet with cooking spray and set aside.
In a large mixing bowl, measure flour and sugar. Set aside.
In a medium sauce pan, combine butter, water, and shortening. Bring to a boil. After mixture reaches a boil, add key lime juice. Next add the flour/ sugar mixture and stir to combine.
Add buttermilk, then baking soda, then eggs, then vanilla in that order, mixing in-between each addition.
Pour into a greased cookie sheet and bake at 400 degrees F for 20 minutes
Frosting
Combine butter, and milk in a medium sauce pan and bring to a boil, stir in key lime juice, powdered sugar and vanilla until smooth.
After cake has cooked cool for 15 minutes, and poke holes in cake with a fork. Spread frosting evenly over the top of the cake.
