Make a deep slit along the back of each shrimp and spread to butterfly. Stuff each shrimp with 1/2 teaspoon queso fresco and some jalapeno. Close the shrimp around the cheese and jalapeno. Wrap the stuffed shrimp with a half-piece of bacon and secure with a toothpick or small skewer.
Melt the butter in a small saucepan over medium heat. Stir in the adobo sauce, garlic powder and lime juice. Pour half of the butter mixture into a bowl for serving and divide the remaining half between 2 bowls for brushing and basting.
Heat a grill or grill pan over medium heat; brush with olive oil. Brush one side of the shrimp with the butter mixture and put the shrimp on the grill buttered-side down. Using the same brush and same butter, brush the second side. Grill for a few minutes, checking to make sure the bacon is not sticking to the grill.
Flip the shrimp and cook, flipping as needed and frequently basting with the second small bowl of butter and a clean brush, until the bacon is completely cooked and the shrimp are opaque, about 8 minutes total. Serve the shrimp on a platter with the remaining chipotle butter.