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Preheat the oven to 350 degrees F and grease the doughnut molds.
Combine the flour, sugar, baking powder, egg replacer and salt in a large bowl, then cut in the margarine as you would with pie dough, using a pastry blender or your fingertips, until the mixture resembles coarse crumbs with some pea-sized bits of margarine.
Pour the milk mixture into the dry mixture and fold together gently until it has just come together. Don't overmix or your doughnuts will be tough. Gently fold in half of the cereal.
Fill a pastry bag fitted with a large round tip with the dough and pipe into the donut molds.
Bake until the doughnuts spring back to the touch, 10 to 12 minutes.