Butter a jelly roll pan and sprinkle with slivered almonds. Put 1 cup butter, 1 cup sugar, 3 tablespoons cold water, 1 teaspoon vanilla in pan on stove and bring to a little more than a hard ball stage. Then pour into pan, spread over almonds. Take 1 cup milk chocolate bits or semi sweet chocolate bits and sprinkle over top and let sit for 5 minutes and spread. Sprinkle grated almonds over the top.