Soften yeast in 1/2 cup water and set aside. In a large bowl combine margarine, sugar, salt, nutmeg, juice, and scalded milk. Stir to mix well. Add cold water, eggs, and vanilla and cool to lukewarm, mixing well. Add yeast, 6 cups flour, sifted with baking powder, and soda. Mix well. Add 5 cups flour and mix to soft dough. Cover tightly and refrigerate overnight. On well floured board, roll dough 1/2-3/4 inch thick, cut with floured donut cutter. Allow to rise 15 minutes. Fry in deep fat in deep fat fryer at 375 degrees, turning once when golden. Drain on cake rack over absorbent paper. Glaze while warm
For glaze: Mix all ingredients until smooth. Dip warm donuts, turning them to cover. Allow to set on cake rack until cool. Glaze may be reused. Makes 4 dozen large donuts or about 6 dozen small.
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