Cook the bacon in a pan until done, set aside.
Put a pot of water on to boil, then cook the pasta according to the package directions.
Meanwhile, in a medium saucepan, whisk together the water and arrowroot. Then whisk in the remaining sauce ingredients.
While whisking constantly, bring the sauce mixture to a boil over medium heat. It will thicken noticeably once hot - continuing whisking for another 1-2 minutes, then remove from the heat.
Drain the pasta, finely chop up the bacon, and add the pasta and bacon to the pan with the sauce. Mix together and serve warm. (Option: reserve a bit of the bacon to sprinkle on top)