Can you substitute flaked coconut for shredded coconut in a recipe?
If the coconut is a fine flake, I think you possibly could. But,
since the canned coconut is sweeter, and more moist, there may be
some difference in the moistness of the cake. As for the sweetness:
the traditional icing for an Italian Cream Cake is rather sweet
anyway, which could compensate for the sweeter taste of canned
coconut, and that may actually taste better than canned coconut. I
would certainly give it a try, but probably not at a time when I am
making that particular recipe for a special ocassion.