Place chocolate morsels in top of a double boiler; bring water to a boil.
Reduce heat to low; cook until chocolate melts.
Cool slightly, and spread 2 tablespoons over bottom of meringue shell (layer will be thin).
Beat egg yolks until thick and lemon colored.
Add remaining chocolate and 1/4 cup water, beating until thoroughly blended.
Cover and chill.
Beat 1 cup whipping cream and cinnamon at low speed of an electric mixer until foamy; gradually add sugar, beating until soft peaks form.
Spread half of sweetened whipped cream in meringue shell.
Fold remaining whipped cream into chocolate mixture; carefully spread over whipped cream layer.
Chill at least 8 hours.
Garnish with additional whipped cream and pecans, if desired.