Place the cream cheese in a bowl and beat until lightened. Mix in the remaining ingredients, except walnuts. Spread the nuts on a plate. Lightly dampen your hands with cold water and shape the cheese mixture into a 2-inch round log. Coat the log with nuts, gently pressing them on to help them adhere. Wrap and refrigerate the cheese log at least 2 hours to firm up. Keep refrigerated until needed; can be made a day in advance of serving.
To coarsely crush the walnuts, place them in a thick plastic bag and set on a cutting board. Use a kitchen hammer to crush the walnuts into smaller, but still visible pieces.
Recipe Options: Instead of shallot, use an equal amount of finely chopped red onion in this recipe. If you prefer their taste, instead of walnuts use pecan pieces to coat the cheese log. For even more flavour, add dashes of Worcestershire and Tabasco sauce to the cheese mixture before forming it into a log.