Cook bacon on medium skillet at medium heat until just before crispy. Transfer to paper towel lined tray to absorb excess grease.
In a large skillet, combine sliced onions and olive oil. Cook on medium low heat for 10 minutes until onions are soft, occasionally stirring to prevent sticking to bottom of pan.
Add the thyme leaves and continue cooking (and stirring when needed) until translucent brown. (10-15 min) Add a Tbsp of water as needed if sticky too much to pan. Set aside to cool.
In a large bowl, stir together cream, eggs, salt, pepper, and manchego crumbles.
Add caramelized onions to the cream mixture and softly fold together with spatula.
Transfer ½ of the onion mixture to the Walnut Pie Crust. Sprinkle with pieces of bacon.
Repeat with second half of filling.
Top with sliced shallots. (option to slightly cook on skillet prior)
Place tart (still in aluminum foil dish) on a cookie sheet onto middle oven rack.
Bake at 375 F (190 C) for 30-35 minutes until golden brown.
Place onion tart on cooling rack for 15 minutes before slicing and serving warm.