To prepare salsa, combine first 4 ingredients; cover and chill.
Preheat oven to 400°.
To prepare French toast, combine egg substitute and next 6 ingredients (egg substitute through eggs) in a large bowl, stirring well with a whisk. Place bread in egg mixture; press down with spatula to completely submerge bread in egg mixture. Let stand 15 minutes.
Arrange soaked bread in a single layer on a jelly roll pan coated with cooking spray. Bake at 400° for 12 minutes or until set. Remove from oven, and keep warm.
While bread bakes, heat a grill pan over medium-high heat. Coat pan with cooking spray. Arrange 4 pineapple slices in pan; cook 4 minutes on each side or until pineapple begins to brown. Remove from pan; keep warm. Repeat procedure with remaining pineapple and cooking spray. Arrange 2 toast pieces on each of 8 plates; top each serving with 1 pineapple slice and 1/2 cup salsa. Sprinkle with powdered sugar, if desired.