In large bowl, combine 1 cup cheese, water, and taco seasoning. Crumble beef over mixture and mix well. Shape into 15 balls. Place meatballs on cookie sheet for 12 minutes. Drain meatballs on paper towels. Reduce heat to 375F.
Arrange crescent rolls on pizza pan, forming a ring with pointed ends facing the outder 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. Repeat. Bake 15 minutes. Transfer to serving plate. Fill center of ring with lettuce, tomatoes, onion, olives, jalepenos, remaining cheese, sour cream and salsa.