Preheat oven to 350°.
Beat margarine and sugars at medium speed of a mixer until well-blended (about 5 minutes). Combine evaporated milk, honey, and applesauce; set aside. Combine flour, cinnamon, baking soda, and salt. Add flour mixture to margarine mixture alternately with honey mixture, beginning and ending with flour mixture. Stir in dates and walnuts.
Pour batter into a 13 x 9-inch baking pan coated with cooking spray. Bake at 350° for 55 minutes or until a wooden pick inserted in center comes out clean. Cool in pan on a wire rack.