Position oven racks in second and third levels in oven. Heat oven to 250 degrees F.
Toss together the broken tortilla chips, multi-bran cereal squares, cheese tidbits, pretzel twists and unsalted peanuts in a large bowl until well mixed.
Stir together the melted butter, Worcestershire sauce, chili powder, cumin, garlic powder, seasoned salt and ground red pepper in a small bowl until well mixed. Pour the seasoning mixture over the snack mix, tossing until the mix is evenly and lightly moistened with the seasoning mixture. Turn the snack mix into two ungreased 15 x 10 x 1-inch jelly-roll pans.
Bake the snack mix in the 250 degree F oven for 30 minutes or until the coating on the snack mix begins to darken slightly; stir the snack mix every 10 minutes and turn and reverse the jelly-roll pans halfway through the baking. Let the snack mix cool completely in the pans on wire racks. Makes about 12-1/2 cups.