Preheat the oven to 350 degrees F.
Grease a 17 by 12-inch baking pan with 1 teaspoon of the shortening. In a large, heavy
saucepan over medium heat,
melt the remaining 1 cup shortening. Remove from the heat and let cool slightly. Add the sugar and
blend. Add the
eggs 1 at a time, whisking after each addition. Add the water and vanilla and
whisk to mix well. Add the flour, cocoa, baking powder, and salt and stir to blend. Fold in the
walnuts and chopped chocolate, then spread the
batter evenly in the prepared pan. Bake until the cake springs back when touched, about 25 minutes. Remove from the oven and let cool for 30 minutes. Spread the
icing over the
cake with a rubber
spatula. Let cool completely before cutting into squares to serve. Slice and serve individual pieces on a large platter.