Preheat oven to 250 degrees F (120 degrees C). Pour cereal into a large roasting pan.
Melt butter in a saucepan over medium-low heat; stir in Worcestershire sauce, seasoned salt, garlic powder, onion powder, cayenne pepper, and jalapeno pepper sauce. Drizzle sauce over cereal and stir to coat evenly.
Bake in the preheated oven, stirring every 15 minutes, until sauce is baked into cereal, about 45 minutes. Cool in pan, about 10 minutes.
