Unwrap chocolate candies. Line tray with wax paper.
Place white chips and shortening in small microwave-safe bowl. Microwave at MEDIUM (50%) 1 minute; stir. If necessary, microwave at MEDIUM an additional 10 seconds at a time, stirring after each heating, until chips are just melted when stirred.
Using fork dip chocolate candies in melted white chips. (If mixture is too hot the chocolate will start to melt. Cool until chocolate does not begin to melt when dipped.) Tap fork on edge of container to remove excess white coating. (If coating becomes too thick, microwave at MEDIUM 10 seconds and stir.) Place on prepared tray. Allow coating to harden.
Meanwhile, tint sugar with food color, if desired. Place sugar into individual small bowl for each color desired. Add several drops liquid food color. Stir until sugar is uniform color.
With sharp knife scrape or cut away "chocolate foot" that forms and any bits of hardened coating that are irregular. Lightly buff surface of coated egg with paper towel to smooth out any bumps.
Whisk together meringue powder and water until light and foamy. Using small brush lightly coat outside of chocolate pieces with meringue mixture. Roll in or sprinkle with sugar; place on prepared tray to dry. Store sugared chocolates in cool, dry place.