I've watched orange julius' being made - it's pure oj, crushed ice and some of their "special powder" - which is a very fine grained white powder of some sort.

The recipes I've seen on the web (and have used); mix powdered sugar with powdered egg whites to make the 'julius' powder. It sure seems to give the drink the same 'mouth feel' and taste as the commercial ones.

I don't believe the bit about malt - malt usually makes me sick to my stomach...