Bring chicken broth to a simmer in a saucepan, and keep warm over low heat.
Melt 1 tablespoon butter in a 3 quart saucepan over low medium heat. Add garlic and shallot; cook 2 minutes, stirring constantly. Reduce heat to medium; add rice and cook 5 more minutes or until rice is translucent, stirring constantly.
Add warm chicken broth to rice mixture, 1/2 cup at a time, stirring constantly. Allow liquid to be absorbed after each addition before adding more broth. Stir in salt and pepper; set aside.
Melt remaining 1 tablespoon butter in a large skillet over medium high heat. Add onion and carrot; cook 2 minutes, stirring constantly. Reduce heat to medium; add zucchini and squash. and cook 2 minutes or until vegetables are tender, stirring often. Add vegetable mixture to rice mixture; stir gently. Stir arugula, basil, and oregano; sprinkle with blue cheese and walnuts. Garnish if desired. Serve immediately. 8 servings.