HEAT oven to 350 degrees F. Spray an 8 x 8-inch pan with flour no-stick cooking spray.
COMBINE shortening, granulated sugar, brown sugar, eggs and vanilla in medium bowl; beat at medium speed until blended.
COMBINE flour, baking soda and salt in small bowl. Add gradually to shortening mixture at low speed. Beat until well blended. Stir in chocolate chips with spoon. Divide dough in half. Spread half in bottom of prepared pan.
COMBINE caramels and water in small saucepan; heat over very low heat. Stir until caramels melt. Spread over dough in pan to within 1/2 inch of edge. Spoon remaining dough over caramel mixture. Spread carefully.
BAKE 30 to 35 minutes or until golden brown. Loosen from sides of pan with knife. Remove pan to cooling rack to cool completely. Cut into 1 1/2 x 1 1/2-inch bars.