Line tray with wax paper; generously butter or spray wax paper with nonstick cooking spray. Insert wooden stick into stem end of each thoroughly dried apple.
Place caramels and water in medium microwave-safe bowl. Microwave at HIGH (100%) 1 minute; stir. If necessary, microwave an additional 30 seconds at a time, stirring after each heating, until caramels are melted and mixture is smooth.
Dip apples into warm mixture, turn until coated. Scrape off exess coating; place on prepared tray. If necessary, warm coating by microwaving an additional 15 seconds at a time. Refrigerate until firm (about 30 minutes).
Place chocolates and shortening in microwave-safe measuring cup. Microwave at MEDIUM (50%) 1 minute; stir. If necessary, microwave an additional 15 seconds at a time, stirring after each heating, until chocolates are melted and mixture is smooth when stirred.
Drizzle melted chocolate over caramel-coated apples. Refrigerate until serving time. 6 servings.