Place flaxseed in a spice or coffee grinder; process until coarsely ground. Combine flaxseed, oats, and remaining ingredients except water in a large bowl, stirring well to combine.
Bring water to a boil in a large saucepan; add cereal. Cover, reduce heat, and simmer 15 minutes, stirring occasionally. Uncover and cook 2 minutes or until thick, stirring constantly. Serve immediately.