Heat a very large pan over medium heat. Add in the oil (or use leftover bacon grease).
Beat the egg in a large wide bowl. [If making more than one serving, add another egg]
Mix in the eggnog and the spices and whisk this a few times.
Slice a 1 thick piece of Panettone bread. If desired, you can slice this in half (from top to bottom) to make two slices of bread.
Dip the bread into the egg batter, let it soak for 2-3 seconds, and then flip the bread over to coat the other side.
Quickly add the coated slice of bread to the heated pan and fry for 2-3 minutes per side. Check for a nice even brown color before flipping it over. [Add oil if needed when doing side two]
Plate the toast and top with crushed walnuts and syrup. Garnish with orange slices and enjoy.
