Heat oven to 375°F. In large bowl, combine brown sugar, sugar, margarine and shortening; beat until light and fluffy. Add vanilla and egg; blend well.
Stir in flour, baking soda and salt; mix well. Stir in vanilla chips and macadamia nuts. Drop dough by tablespoonfuls 3 inches apart onto ungreased cookie sheets.
Bake at 375°F. for 8 to 10 minutes or until light golden brown. Cool 1 minute; remove from cookie sheets.