Combine gelatine and cold water; let stand until thick. Place gelatine mixture in top of double boiler and heat until dissolved.
2.
Add glucose and glycerine, mix well. Stir in butter and just before completely melted, remove from heat and stir in vanilla. Mixture should cool until lukewarm.
3.
Place 1/2 of the icing sugar in a large bowl. Make a well in the centre and using a wooden spoon, stir in the lukewarm gelatine mixture. Mix in sugar and add more a little at a time, until stickiness disappears. Knead in remaining sugar. Knead until the fondant is smooth, pliable and does not stick to your hands. If fondant is too soft, add more sugar; if too stiff, add water (a drop at a time). Use fondant immediately or store in airtight container in fridge. When ready to use, bring to room temperature.
I really do not like this icing but it is becoming popular for icing on sponge cakes and the querky wedding and birthday cakes being sold.