In a bowl, cream butter and sugars. Add milk, egg and orange juice; mix well. Combine the flour, baking powder, salt and baking soda; add to the creamed mixture and mix well. Stir in cranberries and nuts. , Drop by tablespoonfuls 2 in. apart onto greased baking sheets. Bake at 350° until golden brown, 12-15 minutes. Cool on wire racks., For frosting, heat the butter in a saucepan over low heat until golden brown, about 5 minutes. Cool for 2 minutes; transfer to a small bowl. Add sugar and vanilla. Beat in water, 1 tablespoon at a time, until frosting reaches desired consistency. Frost the cookies.