1.Line two greased 9-in. round baking pans with waxed paper; set aside. In a microwave,
2.melt butterscotch chips and water at 70% power for 1 minute; stir. Microwave at additional 10- to 20-second intervals,
3.stirring until smooth. Cool to room temperature.In a large bowl, cream shortening and sugars until light and fluffy.
4.Add eggs, one at a time, beating well after each addition. Beat in butterscotch mixture.
5.Combine the flour, baking soda, baking powder and salt; add to creamed mixture alternately with buttermilk just until combined.
6.Pour into prepared pans. Bake at 375° for 25-30 minutes or until a toothpick inserted in the center comes out clean.
7.Cool for 10 minutes before removing from pans to wire racks to cool completely.
8.In a large saucepan, combine sugar and cornstarch. Stir in evaporated milk and water until smooth.
9.Cook and stir over medium heat until thickened and bubbly. Reduce heat; cook and stir 2 minutes longer.
10Remove from the heat. Stir a small amount of hot filling into egg yolk; return all to the pan, stirring constantly.
11.Bring to a gentle boil; cook and stir 2 minutes longer.
12.Remove from the heat. Gently stir in chips and butter. Stir in pecans and coconut. Cool to room temperature without stirring.
13.Place one cake layer on a serving plate; spread with half of the filling. Top with second layer and remaining filling.
14.Frost sides with buttercream frosting. Store in the refrigerator. Yield: 12 servings.