PREHEAT oven to 325° F. Grease 9-inch springform pan.
COMBINE flour, cocoa, baking soda and salt in small bowl. Combine sugar, butter and water in medium saucepan. Warm over medium heat, stirring constantly, just until butter is melted; do not boil. Remove from heat. Add 3/4 cup morsels and vanilla extract. Stir until morsels are nearly melted. Add eggs, one at a time, stirring until smooth. Stir in flour mixture. Stir in 1/2 cup morsels. Spread into prepared pan. Sprinkle with remaining morsels.
BAKE for 25 to 28 minutes or until wooden pick inserted in center comes out
slightly sticky. Cool in pan on wire rack. Remove side of pan. Cut into wedges. Serve with whipped cream.