In pan, sauté onion in butter til transparent, about 5 to 6 minuses. Add chili sauce, water, Worcestershire, brown sugar, vinegar, tomato paste, mustard and Tabasco. Heat til boiling; reduce heat and simmer for 20 minutes or til thickened. Remove from heat
Dip each shrimp into sauce and set aside for 20 minutes. Wrap each shrimp in 1 piece of bacon and place on broiler tray. Broil 4 inches from source of heat til bacon is crisp, 3 to 4 minutes on each side. Warm reserved sauce. Serve shrimp accompanied by sauce.