Drain applesauce to remove excess juice. You can reserve this juice and use as a substitute for part of the skim milk in the recipe.
In a large bowl, beat the applesauce and honey together with a whisk. Add the whole egg, beating well. Then whisk in the mashed bananas and milk.
In a medium bowl, sift together baking soda, vanilla, salt, nutmeg and flour. Whisk to blend.
In a clean bowl, whip the egg whites until soft peaks form. Preheat the waffle iron.
Switch to a rubber spatula and fold half of the dry ingredients into the wet. Then fold half of the whipped egg whites into the mix. Repeat with remaining dry ingredients and egg whites. Don't over mix.
Ladle or spoon the batter onto the hot waffle iron, keeping about an inch of the iron showing around the outer edge of the iron. Be prepared – the batter will expand.
Meanwhile, place the almond butter and maple syrup or honey in a microwave-safe bowl. Heat on low until melted. Stir until combined.
Serve the warm waffle topped with banana slices. Drizzle with warm honey and nut butter.