In a large mixing bowl, beat butter and 1/2 cup shortening. Add sugar, vanilla, and salt. Beat until well combined.
Beat in flour. Knead dough together until well blended and shape into a ball. Set aside.
Combine preserves, apricots, and orange peel.
Divide dough in half. Roll each half between pieces of wax paper to a 6x12 inch rectangle. Remove top wax paper.
Spread preserve mixture lengthwise on half of each rectangle of dough, to within 1/2 of edges. Fold dough over filling and seal edges. Use the wax paper to invert onto a greased cookie sheet and use fork tines to reseal edges.
Bake at 375°F for 20-25 minutes. Cool on cookie sheet on a wire rack.
When cool, cut each square of dough into 3/4 inch wide sticks. Put sticks on the cookie sheet and bake at 375°F for 8-10 minutes or until crisp. Cool on a wire rack.
In a microwave-safe bowl, microwave the white chocolate chips and 2 tablespoons shortening for 2 minutes or until melted, stirring twice. Dip cookies in this mixture, then in decorating sugar. Cool on waxed paper.