Preheat the oven to 300F; line a large baking sheet with parchment paper or a silpat liner.
Cream together the butter and cream cheese in a large bowl, and then cream in the vanilla, additional extract, and Swerve. Mix in the almond flour, arrowroot, baking powder, and salt until it forms a dough.
For slice and bake cookies, roll the dough into a 6-inch log, wrap it in plastic wrap, and chill until cold (about 30 minutes in the fridge or 10 minutes in the freezer) before slicing into 12 rounds (each 1/4-inch thick).
For cutout shapes, form the dough into a disk, wrap it in plastic wrap, and chill until cold. Roll it out between 2 sheets of parchment paper to a circle about 10 inches in diameter and 1/4-inch thick. Use any festive cookie cutter shape to stamp out cookies.
Arrange the cookies on the prepared baking sheet; chill 10 minutes in the freezer.
Bake until golden on the bottom and along the outside, about 20 to 24 minutes. Cool completely before removing and glazing.
For the glaze, whisk together all ingredients, adding just enough water so it reaches a glaze-like consistency.
Spread the glaze on each cookie and let it set before serving.