The story refers to this cake. Source: Sad Trump cake is the perfect meme to end his campaign
- un-oven → uneven
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- frosty - unfriendly or cold
- frosting - a sweet mixture, cooked or uncooked, for coating or filling cakes, cookies and the like; icing.
- bread and butter - Fig. someone's basic income; someone's livelihood—the source of one's food
- (Getting a) round - I'm not sure about this one. I think it's intended to be a pun. Here are some possibilities:
- Getting around means to circumvent, evade.
- sweet - slang. cool, awesome
- no ifs, pans or butter → no ifs, ands, or buts - without excuses or doubts
- piece of cake - Fig. something easy to do
Also, just before the quoted portion, the speaker says
Some might pan its likeness
Pans are kitchen utensils, but pan also means to criticize severely.