Make the cream cheese glaze: Whip the cream cheese and butter together in a large bowl until smooth and fluffy. Gradually whisk in the confectioners' sugar, then add the vanilla add the milk and whisk until the glaze is smooth. Stir in the nuts if using.
Make the red velvet waffles: Whisk the flour, sugar, baking powder and cocoa in a large bowl. Beat the buttermilk, melted butter, eggs, vanilla and vinegar together in separate medium bowl until smooth, then stir in the red food coloring. Add the buttermilk mixture to the dry ingredients and whisk until smooth.
Heat a waffle iron according to the manufacturers' instructions. Spray the waffle iron with nonstick cooking spray and then pour a scant 1 cup of the waffle batter onto the waffle grid. Close the iron and cook until the waffle is deep red and crisp on the outside, about 3 minutes. Repeat with the remaining waffle batter. Serve each waffle drizzled with the cream cheese glaze.
This recipe was provided by a chef, restaurant or culinary professional. It has not been tested for home use.
Recipe courtesy of Kelsey and Kim's Southern Cafe, Atlantic City, New Jersey