Sift first 4 ingredients into medium bowl. Mix in pepper. Using electric mixer, cream butter in another bowl until light. Gradually add sugar and beat until fluffy. Mix in eggs one at a time. Mix in orange peel and vanilla and almond extracts. Mix in walnuts. Add dry ingredients and mix just until blended. Cover dough with plastic wrap and refrigerate until well chilled. (Can be prepared one day ahead.) Preheat oven to 350. Butter and flour 2 baking sheets. Divide dough into 3 pieces. Using lightly floured hands, roll each piece into 1-1/2 inch diameter log on lightly floured surface. Arrange 2 logs on one sheet, spacing 5 inches apart. Arrange third log on second sheet. Bake until logs are light brown, about 20 minutes (logs will spread during baking). Cool slightly on pan. Cut logs crosswise on diagonal into 3/4 inch wide slices. Turn cut side down on baking sheet. Bake until golden brown, about 15 minutes. Transfer to racks and cool. Store in airtight container.
