HEAT waffle iron according to package directions. Whisk pancake mix, water, oil, egg and 1/2 cup chocolate hazelnut spread together in large bowl just until blended.
COAT hot waffle iron with no-stick cooking spray. Pour about 1 cup of batter onto center of waffle iron and close lid. Bake 5 to 6 minutes or until steaming stops. Repeat with remaining batter, making 16 (4x4) waffles.
COMBINE syrup and 1/4 cup chocolate hazelnut spread in small microwave-safe bowl. Microwave on HIGH for 30 seconds. Stir until smooth.
PLACE waffle on serving plate. Top with 1/4 cup strawberries, whipped cream, another waffle, 1/4 cup strawberries and finish with whipped cream. Repeat with remaining waffles. Serve with chocolate hazelnut syrup.