Combine preserves, water, lime juice, soy sauce, mustard and pepper flakes in a blender or food processor until well blended and mixture is smooth. Pour into small bowl, cover and refrigerate.
Preheat oven to 350°. Line a large baking sheet with parchment paper.
Wrap each piece of wiener with a portion of Nueske bacon overlapping on the underside and place on parchment lined baking sheet. Bake until bacon is browned and crisp to your liking, about 20 -25 minutes. Serve warm with prepared dipping sauce.