Preheat the oven to 350°F Butter and flour a standard 10" x 15" jelly roll pan or spray with baking spray. Set aside.
Using an electric mixer, cream together the butter, sugar, vanilla and almond extracts for 2-3 minutes.
Add the eggs one at time beating well after each addition.
In a separate bowl, sift together the flour, pudding mix, baking powder and salt.
Add the dry ingredients and buttermilk alternately beginning and ending with flour. Repeat until all has been added. Stop and scrape the sides of the bowl periodically.
Use a large spatula to mix the chocolate chips and 1 cup toffee bits in by hand until evenly distributed in batter.
Spread into the prepared jelly roll pan. Bake for 30-35 minutes or until a toothpick inserted into the center comes back clean.
Meanwhile,on the stovetop in a small heavy bottomed saucepan over medium heat melt together the butter, heavy cream and cocoa until smooth.
Remove from the heat and add the almond extract. Use a hand mixer to gradually beat in the powdered sugar.
Spread over the cooled cake then sprinkle with remaining toffee bits.
Store chilled bring to room temperature for serving.