Heat oven to 350°F. Lightly grease bottom only of 10-inch springform pan with shortening or cooking spray. In 1-quart saucepan, melt butter over low heat; set aside to cool.
Reserve 8 whole nuts for garnish. In food processor or blender, process remaining nuts until ground, making about 1 1/3 cups. Reserve 1 tablespoon for garnish.
In large bowl, beat eggs, sugar and 1 teaspoon vanilla with electric mixer on medium speed 2 to 3 minutes or until thick and lemon colored, scraping bowl occasionally. On low speed, beat in flour, baking powder, salt and ground nuts, scraping bowl occasionally. Continue beating, gradually adding cooled, melted butter until well blended, scraping bowl occasionally (mixture will be thick). Spread batter evenly in pan.
Bake 35 to 45 minutes or until toothpick inserted in center comes out clean. Cool in pan 15 minutes. Remove side of pan; run long knife under cake to loosen from pan bottom. Place heatproof serving plate upside down over cake; turn plate and cake over. Remove pan bottom. Cover cake with cloth towel; cool completely, about 30 minutes.
In 2-quart saucepan, heat whipping cream just to boiling; remove from heat. Stir in chocolate chips until melted and smooth. Stir in 1/2 teaspoon vanilla. Spread glaze over top of cake, allowing some to run down side of cake. Sprinkle reserved ground nuts around top edge of cake; arrange reserved whole nuts over ground nuts.