Preheat the oven to 375 degrees Fahrenheit. Line a cookie sheet with parchment paper or use a non-stick cookie/baking sheet.
In a food processor, blender or hand beater, whip the egg replacer and water together, until it’s thick-ish and some-what creamy.
In a large bowl, cream the margarine, sugars, and vanilla. Add the egg replacer to this wet mixture, and thoroughly combine.
In a separate bowl, combine the flour, baking soda, and salt. Gradually beat the flour mixture into the wet mixture until it begins to form a dough. When it is almost thoroughly combined, stir in the chips.
Bake on the cookie sheet for 8-10 minutes, or until golden brown.