In a 2 to 3 quart saucepan, melt butter in water. Add salt, bring to boil and stir in sifted flour. Cook until the mixture pulls away from heat. Transfer to a mixing bowl and allow to cool. When cool, beat in eggs one at a time.
Heat 3 to 4 inches of oil in a 6-inch deep sauce pan to 375 degrees. Place honey in a small saucepan and heat over low heat. Using 2 tablespoons, form almond-sized balls of dough and drop into hot oil. Fry 3 or 4 at a time (leave space they will double or triple in size) until golden brown on all sides, about 2 to 3 minutes. Remove and drain on paper towels. Continue until all the balls are done. Sprinkle with powdered sugar, drizzle with honey and serve.