Sprinkle tapioca over milk in heavy saucepan. Let stand for 10 minutes or until softened.
Beat egg white powder and water in small bowl until stiff peaks begin to form. Gradually add half the sugar, beating until stiff peaks form.
Place saucepan with tapioca mixture over medium heat; bring to boiling, stirring.
Whisk remaining sugar into yolks in small bowl. Stir a little of hot tapioca mixture into yolks. Stir yolk mixture into tapioca mixture in saucepan. Cook 4 minutes to thicken, stirring. Add vanilla. Scrape into clean bowl. Fold in egg whites. Refrigerate to chill, about 2 hours.
Beat cream in small bowl until stiff peaks form. Serve pudding with dollop of whipped cream and a sprinkle of cinnamon.