Put cream cheese, margarine, cheddar cheese powder, cheddar cheese, lemon juice, parsley, and green onion in small food processor bowl. Process until nicely blended. Put chopped nuts into a shallow bowl.
Shape cheese mixture into a ball or log using clean hands, then roll it in the chopped nuts. Wrap well with plastic wrap and refrigerate until ready to serve. Serve with lower-fat, higher-fiber crackers.