Source: Whitman's Chocolate Cookbook
1/4 cup butter or margarine, melted
1/2 cup firmly packed brown sugar
1 tablespoon water
36 to 48 walnut halves
1 cup cake flour, sifted
1/3 cup cocoa
1/2 teaspoon baking soda
1/4 teaspoon salt
1/4 cup butter or margarine
3/4 cup granulated sugar
1/2 teaspoon vanilla extract
1/2 cup water
1/3 cup sweetened condensed milk
1/2 cup semisweet chocolate chips
1 tablespoon butter
Preheat oven to 350 degrees F. Grease well 12 muffin pan cups.
In small saucepan, combine the 1/4 cup melted butter, brown sugar and 1 tablespoon water. Simmer 1 minute. Place 3 or 4 walnut halves in each of the prepared muffin pan cups. Spoon cooked mixture over walnuts.
Sift flour, cocoa, baking soda and salt together; set aside.
Cream 1/4 cup butter. Gradually add sugar and continue creaming until light and fluffy. Beat in egg and vanilla extract. Blend in dry ingredients alternately with the 1/2 cup water, beginning and ending with dry ingredients.
Fill muffin pan cups 1/2 full with batter. Bake for 20 to 25 minutes, until surface springs back when gently touched with fingertip. Remove from muffin pan. Let cool inverted on wire racks.
In small saucepan, combine milk and chocolate. Cook over very low flame, stirring constantly, until smooth and thickened, about 10 minutes.
Stir in 1 tablespoon butter; keep warm. Spread on sides of cupcakes.