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1. Line a 13x9x2-inch baking pan with foil, extending foil over edges of pan. In a bowl combine chopped almonds, semisweet and milk chocolate pieces, and white baking pieces. Sprinkle half (about 1-1/2 cups) of the nut/chocolate piece mixture over the bottom of prepared baking pan. Sprinkle malted milk powder over mixture in pan.
2. In a 2-quart heavy saucepan combine butter, sugar, and water. Cook over medium heat to boiling, stirring to dissolve sugar. Clip a candy thermometer to the pan. Cook, stirring frequently, until thermometer registers 290 degree F (soft-crack stage), about 15 minutes. Mixture should boil at a steady rate over the entire surface. (Adjust heat as necessary so that mixture does not boil over.)
3. Remove from heat; remove thermometer. Pour mixture quickly over nuts and chocolate pieces in pan. Immediately sprinkle remaining nut/chocolate piece mixture over toffee. Cool about 1 hour before breaking into pieces. If necessary, chill 15 minutes or until chocolate is firm. Makes about 2 pounds (36 servings).