LINE baking sheet with wax paper.
MICROWAVE morsels and oil in small, uncovered, microwave-safe bowl on MEDIUM-HIGH (70%) power for 1 minute; STIR. If morsels retain some of their original shape, microwave at additional 10- to 15-second intervals, stirring just until melted.
DIP cones 1 1/2 inches into melted chocolate. Use side of bowl to remove excess. Roll edge in nuts. Invert onto prepared baking sheet. Refrigerate for 15 minutes or until set. Store covered at room temperature for up to 3 days.