Combine water, shallots, tarragon, pepper and nutmeg in saucepan. Bring to boil over medium heat. Add asparagus stems. Cook 2 minutes. Add asparagus tops and wine, cooking until tender. Remove asparagus tops, slice into small rounds and reserve. In food processor combine contents of saucepan with mustard, cream cheese and lime juice. Blend until smooth. Strain through cheesecloth or metal strainer. (Sauce can be prepared in advance to this point).
Cook pasta until al dente. Drain well. return sauce to pan. Add scallops (cut into thirds) and simmer over medium heat 30-45 seconds. Be careful not to overcook. Add pasta and asparagus tips to sauce. Toss lightly. Garnish with chives.