Hey, I actually just had to experiment with the same substitution. Here you go!!
http://forum.cakecentral.com/cake-decorating-ftopict-584850-margarine.html
Check out my last post in this thread for the outcome!
Does anyone know if using margarine makes a difference when making cookie bouquets??? Do they slide more/less? Do they crumble more/less??? Things like that.
Can't answer the "more/less" questions since margarine is all I've ever used, but mine work out ok.
Margarine makes absolutely no difference when making a bouquet. I made a double batch of NFSC a few days ago, and just finished up the batch yesterday making cookies on sticks for a bouquet going out tomorrow, the rest had been used for cookies without sticks! Same dough, same great taste... and my undying gratitude to IMPERIAL margarine! 
nfsc is No Fail Sugar Cookie
Though my friends and family refer to them as 'crack cookies', since eating just one is impossible, and once you start, you always want more. I've actually been forbidden to make them during bathing suit season. (I still do.. hey, if I'm gonna be a fatty, I can at least get everyone else 'healthy-looking' so I don't look as bad, right???)
But yeah... they're THAT good. You THINK you've got a good recipe, till you use this one... 
(my own personal opinion... YMMV)
My mom used Blue Bonnet, so I use Blue Bonnet and then I substitute Imperial when its not available. I also use butter flavoring in the NFSC. They really taste good, I think, and I like them with the RBC. I still add salt...hadn't thought to omit it...probably not a bad idea. Indydebi...Spam is on several menus I saw when in Hawaii. It's still a treat there leftover from WWII.
You guys are so funny !!!And yes they are that good ! Im an imperial fan ! Its the only recipe I use for cutout cookies !
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