I"ve always called it boiled white icing (from Rombauer & Becker, 1964 [otherwise known as the Joy of Cooking]) (it's actually called seven minute icing in the book). This copy of the book doesn't have an edition number, but it has been revised at least once from the original 1931 book. The cake is from a local cookbook. Boiled white icing is really great for about two days. The first day it's soft and creamy. The second day it's still fairly creamy but has a crust on the outside. By the third day the icing starts to be absorbed by the cake, and what isn't absorbed is fairly crunchy. The cake has to be eaten right away. (My opinion).
This is one of my favorites from my childhood in the last century. Since I always lard up over the winter my wife took half the cake and froze it, then iced the other half. I'll try to convince her to ice the other half sometime next summer when I'm working it off.
The layers rose a bit, so they're convex. Putting the top layer on over fresh icing isn't stable, so the skewers are there to keep the top from sliding off. The hearts were an afterthought, made from available materials.