Heat the milk in a small saucepan until it bubbles, then remove from heat. Mix in margarine; stir until melted. Let cool until lukewarm.
In a large mixing bowl, combine 2 1/4 cup flour, yeast, sugar and salt; mix well. Add water, egg and the milk mixture; beat well. Add the remaining flour, 1/2 cup at a time, stirring well after each addition. When the dough has just pulled together, turn it out onto a lightly floured surface and knead until smooth, about 5 minutes.
Cover the dough with a damp cloth and let rest for 10 minutes. Meanwhile, in a small bowl, mix together brown sugar and cinnamon.
Roll out dough into a 12x9 inch rectangle. Spread butter all over dough, sprinkle sugar/cinnamon mixture evenly over dough.Sprinkle with raisins or nuts if desired. Roll up dough and pinch seam to seal. Cut into 12 equal size rolls and place cut side up on lightly greased baking sheet. Cover and let rise until doubled, about 30 minutes. Preheat oven to 375 degrees F.
Bake in the preheated oven for 20 minutes, or until browned. Let cool on baking sheet for about 5 minutes, then remove to plate. Serve warm
Frosting/Glaze: Mix first 3 ingredients (using 2 cups sugar to start),add milk or cream 1 tablespoon at the time, until you get the desired consistency.If you add to much milk, add a little more powdered sugar,until you get it just right for you.You want to drizzle it over the rolls while still warm.I also use this for my cake frosting, just make it thicker so it is spreadable.