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1. Beat butter or margarine and shortening in a large mixing bowl with an electric mixer on medium to high speed for 30 seconds. Add honey, baking powder, and salt. Beat until combined. Beat in eggs and vanilla until combined. Beat in as much of the flour as you can with the mixer. Stir in any remaining flour with a wooden spoon. Stir in coconut and 1 cup walnuts.
2. Spread batter in a greased 13x9x2-inch pan. Bake in a 350 degree F oven for 25 to 30 minutes or until a wooden toothpick inserted near the center comes out clean. Cool in pan on a wire rack.
3. Meanwhile, for the Powdered Sugar Icing, stir together sifted powdered sugar, vanilla, and milk. Stir in additional milk, 1 teaspoon at a time, until icing is drizzling consistency.
4. Drizzle with Powdered Sugar Icing; sprinkle with nuts. Cut into bars. Store in an airtight container in the refrigerator up to 3 days. Makes 24 bars.