1. Preheat broiler.
2. Cook bacon in a large skillet over medium heat until crisp. Remove bacon from pan, reserving drippings; crumble. Increase heat to medium-high. Add shallots to drippings in pan; sauté for 2 minutes or until tender, stirring occasionally. Add Brussels sprouts and 1 cup water; bring to a boil. Cover pan loosely with aluminum foil; cook 6 minutes or until Brussels sprouts are almost tender. Uncover and remove from heat. Sprinkle with 1/4 teaspoon salt and pepper; toss to combine. Spoon Brussels sprouts mixture into a 2-quart broiler-safe glass or ceramic baking dish coated with cooking spray.
3. Place bread in a food processor, and process until finely ground. Melt butter in skillet over medium-high heat. Add breadcrumbs and remaining 1/4 teaspoon salt to pan; sauté for 2 minutes or until toasted, stirring frequently. Add cooked, crumbled bacon to toasted breadcrumb mixture. Sprinkle the breadcrumb mixture over Brussels sprouts mixture. Broil 3 minutes or until golden and thoroughly heated.