Coat 4 1/2 qt crock pot with nonstick cooking spray. Add bell peppers, celery, all but 1/2 cup of green onions, butter, seafood seasoning, and red pepper. Cover and cook on LOW 4 hrs or on High 2 hours.
Turn crock pot to HIGH. Add shrimp. Cover. cook 15 minutes longer. Meanwhile, bring water to boil in medium saucepan. Add grits and cook according to package.
Stir in cheese, cream and remaining 1/2 cup green onions. Cook 5 minutes longer or until cheese has melted. Serve over grits.