Place pecans in a large mixing bowl.
Separately, froth egg whites and cold water together.
Pour over pecans and mix thoroughly.
Stir in remaining ingredients: sugar, cinnamon, salt and nutmeg.
Transfer to a large baking or roasting pan.
Bake at 225 degrees, uncovered for one and a half hours.
Stir every thirty minutes.
Cool, then store in an airtight container.