Combine the chocolate chips, sugar, corn syrup, and water in a glass or metal bowl. Place the bowl over a pot of simmering water to melt the chocolate chips, stirring occasionally. Once the chips are melted, stir the orange flavoring into the mixture and remove from the heat.
Meanwhile, mix together the vanilla wafers and hazelnuts in a bowl; set aside. Pour the chocolate mixture into the bowl; mix until evenly coated. Shape the mixture into small balls; decorate with the candy sprinkles.
