To make grits: In a medium-size heavy bottomed saucepan bring the chicken broth. half-and-half and salt to a boil. Whisk in the grits gradually.
Reduce to a simmer and allow to cook covered for 20-30 minutes or until the grits are tender, stirring occasionally to prevent sticking.
Stir in the cheddar cheese, Parmesan cheese and butter. Mix until combined. Keep warm until serving.
To make shrimp: In a large skillet cook the bacon until crisp. Remove to paper towels to drain, then crumble and set aside. Reserve 1 Tbsp bacon drippings in skillet.
Add butter to bacon drippings. Over medium high saute the diced pepper until softened and beginning to brown .Add the green onion. Cook for 1 minute longer
Sprinkle shrimp with flour, Old Bay seasoning, 1/4 tsp garlic salt until evenly coated.
Add the seasoned shrimp and garlic to the pan and continue to saute until the shrimp are browned about 2 minutes over medium-high.
Add the broth, lemon juice, hot sauce and Worcestershire sauce.
Scrape the bottom of the pan to remove any browned bits and cook for 2 minutes longer until slightly thickened. Add the parsley and crumbled bacon.
Serve immediately ladled over hot cheddar grits.
Garnish with additional bacon and green onion, if desired. .