Preheat the oven to 350 F. Line a baking sheet with parchment paper. Generously grease a 9 by 5 inch loaf pan, an 8 by 4 inch loaf pan or 6 cup Bundt cake pan with non-stick cooking spray.
In a mixing bowl, cream the butter and the sugar until fluffy. Add in the eggs, sour cream, orange zest and extracts and blend well. Fold in the dry ingredients, scraping the bottom of the bowl to make sure it is all blended. Remove one-third of the batter to a small bowl and using a small whisk, mix it with the undiluted orange juice. Mix in the orange food coloring. Spoon white batter into pan and then drop dollops of the orange batter on top of that and swirl briefly with a knife to marbleize.
Bake until cake springs back when lightly touched with fingertips, about 45-65 minutes (depending on pans used).
For the Orange Glaze, in a small bowl, blend the powdereds sugar and the orange juice together to make a soft glaze.
Once cake is cooled, dust with powdered sugar or drizzle on the glaze. Let the glaze set slightly and glaze with a second coat.