Butter small baking sheet. Melt 1-1/4 cups butter in heavy 2-1/2 quart sauce-pan over low heat. Add both sugars, water and honey and stir until sugar dissolves. Increase heat to medium and cook until candy thermometer registers 290 ° F, stirring slowly but constantly and scraping bottom of pan with wooden spatula, about 15 minutes. Remove pan from heat. Mix in 1 cup coarsely chopped nuts. Immediately pour mixture onto prepared sheet; do not scrape pan. Let stand 1 minute. Sprinkle toffee with chocolate. Let stand 1 minute to soften. Spread chocolate with back of spoon over toffee until melted. Sprinkle with finely chopped nuts. Refrigerate until firm. Break into 3-inch pieces. (Can be prepared 4 days ahead. Chill in airtight container.) Serve at room temperature. Makes about 1-1/2 lbs. candy 07