Prepare 3 cake pans (9") by greasing and flouring.
Cream butter, Crisco, and sugar. Add egg yolks; beat.
Combine flour, baking soda, and salt in a separate bowl.
Add dry mixture to creamed one alternately with milk.
Stir in vanilla, coconut, and nuts into the batter.
Beat egg whites until stiff; fold into the batter.
Pour batter into pans; bake at 300 degrees for 25 minutes.
For Cream Cheese Frosting, mix ingredients (except nuts) with milk.
Achieve spreading consistency.
Frost the top and sides of the cake with the mixture.
Sprinkle nuts on the top of the cake.