Preheat oven to 475°.
Place squash on a nonstick jelly-roll pan coated with cooking spray. Bake at 475° for 20 minutes or until tender, turning after 10 minutes.
Combine water and wine in a saucepan; bring to a simmer. Keep warm over low heat.
Add onion and oil to fry pan; sauté 10 minutes or until onion is tender. Add garlic; sauté 1 minute. Add rice to pan; sauté 1 minute. Stir in wine mixture and spice packet; bring to a boil over medium heat. Reduce heat, and simmer over low heat, uncovered, for 10 minutes. (Do not stir; rice will have a liquid consistency similar to stew.) Stir in the squash, bacon pieces, cheese, salt, and pepper. Cover let stand 10 minutes (rice will continue to cook). Sprinkle with pine nuts. Garnish with tarragon sprigs, if desired.