In a large bowl, cream together the butter and icing sugar. Beat in the vanilla and coconut essences and salt. Add flour one cup at a time, mixing well after each. Stir in the chocolate chips and pecans. Roll the dough into 3cm balls and place them 5cm apart onto an ungreased baking tray. Flatten with a fork dipped in icing sugar.
Bake for 12 to 15 minutes in the preheated oven until light golden brown. While biscuits are still warm from the oven, dust with the remaining icing sugar.