Dissolve yeast in 1 cup warm water and set aside.
Beat butter and sugar in a stand mixer or with a hand mixer until smooth.
Blend in the egg replacer mixture (or eggs), salt, nutmeg and lemon zest.
Add the flour(s) and yeast mixture to the butter mixture and mix until a smooth and elastic dough forms. Add more flour to make sure that the dough is not sticky.
Shape the dough into a ball, cover and let rise for 1 hour.
Knead raisins and almonds into the dough. Divide into 2 equal halves. Cover one half and work on the other half.
Divide the half into 6 equal pieces. Roll 3 dough pieces into ½” thick ropes. Braid together on floured work surface, pinching together braid at both ends. Repeat with the same with the 3 remaining pieces. At this point — you will have 2 braids. Place one braid on top of the other — to make a double stacked loaf. Cover with towel and let rise for 1 hour.
Repeat the same process with the other half that is kept on the side.
Preheat oven to 350°F. Brush the loaves with the egg (replacer) wash.
Bake for 40~50 minutes or until golden brown. Serve warm, dusted with powdered sugar.