Heat a saucepan over medium-high heat. Add water and sugar, and mix well. Cook until the sugar mixture turns golden brown.
Add whipping cream and whisk. When the caramel darkens, add unsalted butter, mix, and remove from heat.
Break tea biscuits into pieces. Combine with chopped pecans and caramel mixture in a bowl.
Press the mixture into a dish, cover with plastic wrap, and refrigerate until firm. Once set, cut the pecan caramel mixture into bars.
Melt milk chocolate using a double boiler. Mix pecans into one bowl, and leave the other plain.
Dip bars into the chocolate and place them on parchment paper.
Garnish with chopped pecans and refrigerate until the chocolate hardens.