Put water, 2 cups of the chopped, green onions, sliced onions, red peppers, bacon drippings, fatback and drippings into a large stew pot. Cook uncovered over medium heat until onions dissolve, about 30 minutes.
Add baking potatoes to the pot. Make a layer of catfish on top of the potatoes. Add dumplings (recipe below) on top of the catfish. Do not stir. You can shake the pot.
When pot contents are done, remove from heat. Combine eggs, reserved bacon, reserved cup of green onion tops, salt and pepper. Pour evenly over contents of pot and cover pot. Let stand 30 minutes. When serving, gently spoon out in sections because the stew will be in layers.