In a double boiler (over medium high heat) add 1/2 cup butter, sugar, cocoa, vanilla & egg, whisking until well combined. Continue to stir until mixture reaches a custard like consistency (thickens slightly).
Add graham wafer crumbs and coconut. Stir until combined and press into ungreased 8x8 or 9x9 square baking pan.
In a separate bowl cream together 4 tbsp butter, milk and vanilla instant pudding powder. Mix in icing sugar and food colouring (if using) until well combined. Spread over chocolate base and let harden.
In a microwaveable bowl add 2 tbsp butter & 5 squares of semi sweet chocolate. Melt chocolate/butter on low in 30-40 second increments stirring in between. Continue until chocolate almost melted. Remove and stir until remaining chocolate is completely smooth.
Pour chocolate over icing sugar base and spread evenly with a spatula. Let harden.