In a large skillet, fry bacon until crisp and brown. Drain bacon on paper towels.
Pour off pan drippings except 2 tablespoons. Saute mushrooms, corn and bell peppers to drippings. Add pimentos and season to taste. Saute until bell pepper is soft.
Meanwhile, beat eggs with water. Melt butter in skillet with vegetables. Pour in eggs and scramble to desired doneness. Serve with bacon or you can crumble the bacon into the scrambled egg mixture - your choice.