Preheat oven to 350°F.
Measure wheatgerm, milk powder and baking powder onto a sheet of wax paper or paper towel. Stir to blend.
In a separate bowl, cream butter, sugar, eggs and vanilla together thoroughly. Add blended dry ingredients to creamed mixture. Mix well. Stir in nuts. Spread into a well-greased 8-inch square baking pan.
Bake for 30-35 minutes or until golden brown.
Combine glaze ingredients (confectioners sugar and water). Mix well. Spread over warm bars. Let cool. Cut into squares.