For icing, whip meringue powder and 1/4 cup water in large bowl on high speed with an electric mixer until stiff peaks form, about 4 minutes. In microwave safe measuring cup, combine sugar, corn syrup and remaining 1/4 cup water. Microwave on high 3-5 minutes or until mixture begins to boil. Slowly add syrup to meringue mixture while mixer is running. Add vanilla. Continue whipping on high speed 3-4 minutes or until thick and glossy. Spread icing onto cupcakes; sprinkle with Sparkling Sugar and cinnamon sugar.