Heat oven to 400. In medium bowl, beat butter, 1/2 cup powdered sugar, 1 1/2 t. orange peel and 1 t. almond extract with mixer on medium speed until smooth. Beat in flour, salt and almonds until well blended.
Shape dough into 1 inch balls. On ungreased cookie sheet, place balls 1 inch apart. Bake 7-10 minutes or until edges are lightly browned. Remove from cookie sheets to wire racks. Cool completely, about 30 minutes.
In small bowl, stir all glaze ingredients, adding enough water to make a pouring consistency. In another small bowl, mix topping ingredients. Dip tops of cookies in glaze, then sprinkle with topping. Place cookies in miniature paper baking cups if desired.