In a large bowl, combine 1 cup cheese, water and taco seasoning. Crumble beef over mixture and mix well. Shape into 16 balls. Place meatballs on a greased rack in a shallow baking pan. Bake, uncovered, at 400(F) deg; for 12 minutes or until meat is no longer pink. Drain meatballs on paper towels. Reduce heat to 375(F) deg;. Arrange crescent rolls on a greased 15-in. pizza pan, forming a ring with pointed ends facing the outer edge of the pan and wide ends overlapping. Place a meatball on each roll; fold point over meatball and tuck under wide end of roll (meatball will be visible). Repeat. Bake for 15-20 minutes or until rolls are golden brown. Transfer to a serving platter. Fill the center of the ring with lettuce, tomato, onions, olives, jalapenos, remaining cheese, and sour cream and salsa if desired.