In a large mixing bowl, beat cream cheese with an electric mixer on low to medium speed until smooth. Add preserves, maple flavoring or rum extract. Beat until combined. Stir in pecans; set aside.
Cut bread into ten to twelve 1-1/4 to 1-1/2-inch-thick slices; cut a pocket about 2-inches deep in the top of each. Fill each pocket with about 1 rounded tablespoon of the cheese mixture.
In a shallow dish or 9-inch pie plate, combine eggs and milk. Using tongs, dip the filled bread slices in the egg mixture, being careful not to squeeze out the filling. Cook on a lightly greased griddle over medium heat about 2 minutes on each side or until golden brown. Keep warm in a 300 degree F oven while cooking remaining slices. Serve immediately with maple syrup. Makes 10 to 12 slices.
For a lower-fat version, use reduced-fat cream cheese (Neufchatel); substitute 1 cup refrigerated or frozen egg product, thawed, for the whole eggs; and use fat-free milk.