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Place a piece of foil that is big enough to cover a 9 X 13 jelly roll pan (like a cookie sheet with sides).
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Spray the foil with cooking spray.
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Sprinkle pecan pieces evenly on foil.
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Melt butter, sugar (both the two cups and 1 tablespoon of sugar), Karo syrup, and water in pan on stovetop.
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Bring the mixture to a boil.
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Turn to medium heat and stir continuously until a candy thermometer says between 290 and 300 degrees or caramel in color.
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Pour mixture over the pecans.
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Spread evenly over the pecans.
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Evenly distribute chocolate chips over toffee.
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Let the chocolate chips melt on toffee for 5 to 10 minutes.
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Use fork or spoon to spread melted chocolate chips over toffee.
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Sprinkle 1 cup chopped walnuts on top of chocolate mixture.
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Refrigerate until chocolate is firm.
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Break toffee into pieces.
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Store in an airtight container.
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30 minutes preparation and cooking time does not include the time it takes to cool and the chocolate to harden on top.