On lightly floured surface, roll dough into two 17x5-inch rectangles; overlap long edges by 1-inch. Spread with ¼ cup softened butter. Sprinkle dough with sugar, cinnamon and walnuts.
Roll up dough, beginning with long side; slice into 15 rolls. Transfer to a greased 13x9-inch baking dish. Let rise in warm place until doubled in size (about 45 minutes).
Bake in a preheated 350°F oven 25-30 minutes or until golden brown. Meanwhile, in small bowl, combine remaining ingredients and ¼ cup butter; mix until smooth. Spread warm rolls with cream cheese frosting.
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