Beat together cream cheese and 1 teaspoon vanilla extract until fluffy; stir in nuts and set aside. Cut bread into 10 to 12 (1 1/2-inch) slices. Slit pocket in top of each. Fill each with 1 1/2 teaspoons of cheese mixture. Beat together eggs, whipping cream, the remaining 1/2 teaspoon of vanilla and nutmeg. Using tongs, dip filled bread slices in egg mixture, being careful not to squeeze out filling. Cook on lightly greased griddle until both sides are brown. Keep slices warm in oven. Heat together preserves and juice, drizzle over hot French bread. Serve with crisp bacon and Mock Champagne.