Let pie crust stand at room temperature according to package directions. Unfold and fit crust into a 9-inch pie plate; flute edges. Line with a double thickness of foil. Bake in a 450 degree F oven for 5 minutes. Remove foil; bake for 5 minutes more.
Meanwhile, for filling, in a medium mixing bowl beat eggs slightly with a fork until combined. Stir in sugar, applesauce, lemon peel, lemon juice, margarine or butter, coconut, and cinnamon. Mix well.
Place the partially baked pie crust on the oven rack. Pour the filling into the pastry shell. Cover the edge of the pie with foil. Reduce oven temperature to 350 degrees F; bake for 20 minutes. Remove foil. Bake for 20 to 25 minutes more or until a knife inserted near the center comes out clean.
Cool pie on wire rack. Cover and chill to store. If desired, top each serving with whipped cream and lemon peel. Makes 8 servings.