1Heat oven to 450°F. Butter bottom and sides of 13x9-inch (3-quart) glass baking dish. In large bowl, stir 4 1/2 cups Bisquick mix and 1 1/3 cups milk with spoon until soft dough forms. Drop dough by heaping tablespoonfuls onto ungreased large cookie sheet. Bake 8 to 10 minutes or until golden. Cool on cooling rack, about 30 minutes.
2Break up biscuits into random-sized pieces; spread in baking dish. Sprinkle with grated baking bars. In large bowl, beat 2/3 cup sugar, the milk, whipping cream, butter, vanilla and eggs with electric mixer on low speed until blended. Pour over biscuits in baking dish. Cover and refrigerate at least 8 hours but no longer than 24 hours.
3Heat oven to 350°F. Stir 1 cup frozen raspberries and 1 cup frozen blueberries into biscuit mixture. Bake uncovered about 1 hour or until top is golden brown and toothpick inserted in center comes out clean.
4In 1-quart saucepan, place 1/3 cup sugar and 2 tablespoons Bisquick mix. Stir in 1 cup frozen raspberries, 1 cup frozen blueberries and the water. Cook over medium heat, stirring constantly, until mixture thickens and boils. Boil and stir 1 minute; remove from heat. Serve pudding warm topped with sauce. Garnish with fresh berries. Store in refrigerator.