Preheat oven to 350 degrees. Pour Egg Beaters into a bowl. Using a blender or food processor, grind Fiber One cereal to a breadcrumb-like consistency. Pour Fiber One crumbs into a plastic container that has an airtight lid (or into a plastic food storage bag). Add as much salt & pepper to Fiber One as you like. Next, prepare the shrimp by ensuring that they are as dry as possible (use a paper towel to soak up moisture). Place shrimp in dish with Egg Beaters and coat them thoroughly. Transfer shrimp to Fiber One container or bag and secure lid/ seal bag. Then shake until shrimp are well coated. Place shrimp on a baking dish sprayed with nonstick cooking spray. Cook shrimp for 15 – 20 minutes (flipping them about halfway through), until outsides are crispy. Let ‘em cool; then serve 'em alone, with ketchup or with some cocktail sauce.
Source: Hungry- girl.com