Cook bacon in lg. skillet over med. heat until crisp. Remove bacon from pan;reserving drippings;crumble.
Increase heat to med-high. Add shallots to drippings in pan;saute 2 mins or till tender,stirring occasionally.
Add Brussel sprouts and 1 c water;bring to boil. Cover pan loosely with foil;cook 6 mins or until Brussel sprouts are almost tender.
Uncover and remove from heat. Sprinkle with 1/4 tsp salt and pepper;toss to combine.
Spoon Brussel sprouts into 2qt. broiler-safe glass or ceramic baking dish ,coated with spray.
Place bread in food processor and process till finely ground..Melt butter in skillet over med-high heat. Add breadcrumbs and remaining 1/4 tsp salt to pan;saute for 2 mins or till toasted,stirring grequently. Sprinkle breadcrumbs mixture over Brussel sprouts mixture.
Broil 3 mins or till golden and thoroughly heated.