In a large bowl, combine 1 cup cheese, water and taco seasoning. Crumble beef over mixture and mix lightly but thoroughly. Shape into 16 balls., Place meatballs on a greased rack in a shallow baking pan. Bake, uncovered, at 400° until meat is no longer pink, about 12 minutes. Drain meatballs on paper towels. Reduce heat to 375°., 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 until rolls are golden brown, 15-20 minutes., 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.