In medium microwavable bowl, microwave chocolate chips on High 1 to 2 minutes, stirring every 30 seconds, until melted. Stir in milk chocolate frosting and 1 teaspoon of the vanilla. Reserve 2 tablespoons of the nuts and 2 tablespoons of the coconut. Stir half of the remaining nuts and half of the remaining coconut into the chocolate mixture. Spread in pan.