Step #1 In a medium saucepan, cover the ham hocks with the water, add the bay leaf & bring to a boil.
Step #2 Simmer over low heat/flame until the hock meat is tender, about 1 hr.
Step #3 Remove the hocks from the saucepan & skim any fat from the surface of the stock; keep the stock warm.
Step #4 Remove the meat from the ham hocks; discard the skin, fat, tendons & bones.
Step #5 Cut the meat into small dice; you should have about 3/4 c.
Step #6 Heat the olive oil in a medium sauce-pan.
Step #7 Add the shallots & jalapeño & cook over low heat/flame until softened, about 5 mins.
Step #8 Add the rice & thyme & stir this to coat the rice with the flavorings.
Step #9 Pour in the ham stock & bring to a boil.
Step #10 Reduce the heat to low & let simmer, until the rice is just tender & the stew is somewhat soupy, stirring every once in awhile, about 15 mins.
Step #11 Add the peas, crabmeat, scallion, lemon juice & the reserved ham & let simmer for 1 min to heat through.
Step #12 Spice up with salt & pepper & serve at once.
Step #13 Make Ahead: The recipe can be prepared through Step 2 & put in the fridged for up to 2 days.