In a small mixing bowl combine preserves or jam and walnuts; set aside.
In a large mixing bowl beat eggs, milk, and margarine or butter with an electric mixer on medium to high speed until well combined. Add flour, granulated sugar, and salt; beat until smooth.
Heat a lightly greased, large, nonstick skillet with flared sides over medium heat until a few drops of water dance across the surface. For each pancake, pour about 1/3 cup batter into the hot skillet. Quickly lift and tilt skillet to spread the batter into an even 8-inch circle. Cook over medium heat for 1-1/2 to 2 minutes or until batter appears firm and undersides are lightly browned. Invert pancake onto an ovenproof plate. Keep warm in a loosely covered ovenproof dish in a 300 degree F oven.
To serve, spread the unbrowned side of each pancake with a rounded tablespoon of the walnut mixture. Roll up jelly-roll style. If desired, cut in half. Sprinkle pancakes with powdered sugar. Makes 8 pancakes.