1. Pour water to depth of 1½ inches into a 3½-qt. saucepan over medium-high heat; bring to a boil. Reduce heat to medium, and simmer.
2. Beat egg yolks at medium speed with an electric mixer 3 minutes; gradually add sugar, beating until blended. Beat 3 minutes. Gradually add butter, beating at low speed until blended.
3. Transfer mixture to a 3-qt. heatproof bowl. Place bowl over simmering water. Cook, stirring constantly, until mixture thickens and an instant-read thermometer registers 170° (about 30 to 35 minutes). Remove from heat; stir in pecans and remaining ingredients. Cool 1 hour.