1. In a large bowl, beat butter with an electric mixer on medium to high speed for 30 seconds. Add sugar, baking powder, baking soda and salt. Beat until combined, scraping side of bowl occasionally. Beat in refrigerated egg product, vanilla and almond extract. Beat in as much of flour as you can with the mixer. Stir in any remaining flour, dried cranberries,pistachio nuts and chopped apricots. Cover and chill dough 2 hours or until easy to handle.
2. Heat oven to 350 degrees F. Lightly grease a cookie sheet; set aside. Divide dough in half. Shape each portion into a 12-inch-long loaf. Place loaves about 3 inches apart on prepared cookie sheet; flatten slightly to 3/4 inch thick.
3. Bake at 350 degrees F for 25 to 30 minutes or until lightly browned and toothpick inserted near centers comes out clean. Cool on cookie sheet for 1 hour.
4. Heat oven to 325 degrees F. Using a serrated knife, cut loaves diagonally into 1/2-inch-thick slices. Place slices on an ungreased cookie sheet. Bake for 6 minutes. Turn biscotti over; bake for 6 to 8 minutes more or until dry and crisp. Transfer to a rack; cool.
5. Blend confectioners' sugar and water. Drizzle over biscotti; let dry.