Preheat the oven to 400 degrees F.
Spread the walnuts on a baking sheet and lightly toast in the oven for 7 to 10 minutes. Remove from the oven and let cool. Roughly chop.
Place the butter, walnuts, shallots, garlic, and salt in a medium bowl, and mix well with a rubber spatula. Spoon down the middle of an 8-inch piece of parchment paper and roll into a log, about 1-inch in diameter. Wrap tightly and refrigerate until ready to use.
To use, cut into thin slices and place on top of the Bacon Pancakes. (The Walnut Butter can be frozen, tightly wrapped in plastic, for up to 1 month.)
Yield: 2/3 cup