Whisk Marinade, oil, vinegar and water in small bowl. Reserve 1/4 cup for basting. Place shrimp in large resealable plastic bag. Add remaining marinade; turn to coat.
Refrigerate 15 minutes, or up to 30 minutes for more flavor. Remove shrimp from marinade. Discard any remaining marinade. Alternately thread shrimp, peppers and pineapple onto 8 skewers.
Grill skewers over medium heat 2 to 3 minutes per side or just until shrimp turn pink, basting with reserved marinade halfway through grilling.