In a bowl, combine 1 cup cheese, water and taco seasoning.
Add beef and mix well.
Shape into 16 balls.
Place 1 inch apart in an ungreased 10x15x1" baking pan.
Bake uncovered at 400 degrees for 12 minutes, or until meat is no longer pink.
Drain meat balls on paper towels.
Reduce heat to 375 degrees.
Arrange crescent rolls on a round stone or a greased 15" pizza pan, forming a ring with narrow ends facing the outer edge of the pan and wide ends overlapping.
Place a meat ball on each roll; fold point over meat ball and tuck under wide end of roll (meat balls will be visible).
Bake for 15 to 20 minutes, or until rolls are golden brown.
Fill the center of the ring with lettuce, tomato, onions, olives, remaining cheese, sour cream, jalapenos and salsa, if desired.