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In a microwave or a double boiler, heat chocolate, 1/4 cup water and butter until the chocolate and butter are melted.
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Cool for 10 minutes.
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In a small heavy saucepan, whisk egg yolks, sugar and remaining water.
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Cook and stir over low heat until mixture reaches 160°F, about 1-2 minutes.
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Remove from the heat; whisk in chocolate mixture.
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Set saucepan in ice and stir until cooled, about 5-10 minutes.
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Fold in whipped cream.
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Spoon into dessert dishes.
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Refrigerate for 4 hours or overnight.