In a saucepan, combine the water, sugar, and cornstarch. Cook and stir over medium heat until thickened and bubbly. Reduce heat; cook and stir for 2 minutes more.
Beat about 1 cup of the hot mixture into egg yolks. Transfer all the mixture back to the saucepan. Bring to a gentle boil and reduce heat. Cook and stir for 2 minutes.
Remove from heat. Add 1/3 cup lemon juice, butter or margarine, and salt; stir until butter melts. Cover surface of mixture with clear plastic wrap and chill in the refrigerator 3 to 24 hours. In a large bowl, beat together the sweetened condensed milk, cream cheese, 1/3 cup lemon juice, and pudding mix. Fold in chilled mixture.
Turn into Prepared crusts (recipe below). Garnish with whipped cream and lemon slices. Make 2 pies (8 servings each).
MAKE AHEAD TIP:.
You can make these pies ahead of time, then cover and freeze one to eat later. To defrost, let the pie stand at room temperature for 3 to 4 hours or place in the refrigerator overnight.
BAKED PASTRY SHELL DIRECTIONS:.
In a bowl, stir together all-purpose flour and salt. Using a pastry blender, cut in shortening until pieces are pea size. Sprinkl 1 tablespoon cold water over part of the mixture; gently toss with a fork. Push moistened dough to the side of the bowl. Repeat moistening dough, using 1 tablespoon cold water at a time, until all dough is moistened (4 to 5 tablespoons cold water total). Form dough into a ball. On a lightly floured surface, use your hands to slightly flatten dough. Roll dough from center to edge into a circle about 12 inches in diameter. To transfer pastry, wrap it around the rolling pin. Unroll pastry into a 9-inch pie plate. Ease pastry into pie plate, being careful not to stretch pastry. Trim pastry to 1/2 inch beyond edge of pie plate. Fold under extra pastry. Crimp edge as directed. Generously prick bottom and side of pastry pie plate with fork. Prick all around where bottom and side meat. line pastry with a double thickness of foil. Bake in a 450°F oven for 8 minutes. Remove foil. Bake 5 to 6 minutes more or until golden. Cool on wire rack.