Combine cereal and milk in a med. sized bowl. Stir to mix well, and set aside for 15 minutes.
Combine flour, sugar, baking powder and cinnamon in a large bowl, and stir to mix well.
Add the apple butter and egg substitute to the cereal mixture, and stir to mix well. Add the cereal mixture to the flour mixture, and stir just until the dry ingredients are moistened. Fold in the raisins and, if desired the walnuts.
Coat muffin cups with nonstick cooking spray, and fill three-fourths full with the batter. Bake at 350 degrees for 17 minutes, or just until a wooden pick comes out clean.
Remove the muffin tins from the oven, and allow them to sit for 5 minutes before removing the muffins. Serve warm or at room temperature.

* Points are not calculated for the walnuts

Nutrition Information:
126 cal., 5.7 g fiber, 0.6 g fat