In a large bowl, cream shortening and sugars until light and fluffy. Beat in eggs and vanilla. Combine the oats, flour, baking soda, baking powder, salt and cinnamon; gradually add to creamed mixture and mix well. Stir in the chips, coconut and walnuts if desired. Drop by rounded teaspoonfuls 2 in. apart onto greased baking sheets. Bake at 375° for 8-10 minutes or until edges are lightly browned and cookies are set. Cool for 2 minutes before removing from pans to wire racks.