Heat Griddle. Using a skillet melt 1/2 cup of butter over medium low heat. When butter starts to get frothy add walnuts and sauté for 3 to 5 minutes. Add maple syrup and simmer for another 5 minutes stirring to coat all walnuts. Remove from heat and set aside. Whisk together eggs, milk and vanilla. Dip bread into egg mixture to thoroughly coat both sides. Brush griddle with butter. Place bread on the griddle and sprinkle top side with cinnamon. Grill both sides until golden, approximately 3 minutes each side.
Remove from griddle in pairs with cinnamon side facing up. Spread a thin layer of cream cheese on each slice of grilled bread. Place 3 heaping tablespoons maple walnut mixture onto one of the cream cheese coated slices, then assemble putting other slice with cream cheese on top. Cut in half to reveal the yummy inside and enjoy. Serve with maple syrup and a dusting of powdered sugar.