Prepare the honey walnut sauce: In a bowl, mix together the mayonnaise, heavy cream, honey, and lemon juice. Set aside.
Prepare the shrimp: Peel and devein the shrimp. Whisk egg whites in a medium-sized mixing bowl. In another bowl, mix panko breadcrumbs, cornstarch, garlic powder, salt, and white pepper.
Dip shrimp in the egg white mixture, then coat with the dry mixture. Set aside.
Heat 2 inches of vegetable oil in a large, heavy-bottomed pot to 350°F. Fry the shrimp in small batches until golden brown, about 2-3 minutes per batch. Drain on paper towels.
Prepare glazed walnuts: In a saucepan, combine walnuts, brown sugar, and water. Boil for 5 minutes. Strain and cool on parchment paper.