Coat one side of an 18-inch piece of heavy foil with nonstick cooking spray. On sprayed surface, arrange half of the bacon to within about 2 inches of edge. Top with half of the potatoes, half of the green pepper, half of the onion, and half of the cheese. Top with remaining potatoes, green pepper, and onion. Sprinkle with seasoned salt and pepper. Top with remaining cheese and bacon. Dot with margarine or butter, if you like.
Coat another 18-inch piece of foil on one side with nonstick cooking spray; place it, sprayed side down, on top of potato stack. Seal all edges with a double fold. Grill the packet on an uncovered grill directly over medium to medium-hot coals. Grill about 40 minutes or until potatoes are tender, turning the packet once. Makes 4 servings.