Preheat the fryer to 350 degrees F.
In the bowl of a food processor, combine the macaroons and process until finely ground. Add the sugar, cheese, cinnamon, and 2 of the eggs. Continue to process until incorporated.
Form the cheese mixture into small balls, about a tablespoon each.
Roll the balls in the flour, coating completely. In a shallow bowl, beat the remaining 1 egg and the water. Dip each ball in the egg wash, letting the excess drip off. Finally, dredge each ball in the bread crumbs, coating completely.
Fry the balls in batches until golden brown, about 2 minutes. Remove from the oil and drain on paper towels.
Place a dollop of the whipped cream in the center of each serving plate. Lay the fritters around the whipped cream. Drizzle the fritters with the honey. Garnish with confectioners' sugar.