Cream together margarine, oil and sugar until very well blended. Add in water and vanilla and blend.
In a separate bowl, whisk together the flours, salt, cocoa, baking powder and soda. Pour the dry ingredients into wet ingredients and blend. When half blended, add the walnuts and coconut. Mix everything until combined, careful not to overmix.
Place by the rounded tablespoon on a greased cookie sheet. Bake at 350°F for about 12 minutes.