In a medium saucepot on medium heat, melt the Mexican chocolate with the heavy cream. Whisk constantly until the chocolate is fully melted, and take care not to burn the chocolate. Turn the heat off and reserve.
Preheat a gas or charcoal grill, or a stovetop grill pan, over medium-high heat.
In a medium mixing bowl, mix the sugar with the cinnamon until evenly incorporated. Toss the bananas with the sugar-cinnamon mixture until fully coated. Transfer to the grill, flat-side down. Grill until the bananas are browned and the sugar is caramelized, about 2 minutes per side. Transfer the bananas to a serving platter. Drizzle with the Mexican chocolate sauce, sprinkle with some shredded coconut and serve with vanilla ice cream.