Place the bread in a shallow bowl and cover with the water. Allow to sit for a few minutes. In a food processor, fitted with a metal blade, combine the almonds, garlic and salt. Process until smooth. Add the melon and continue to process until smooth. Remove the bread from the water and squeeze dry. With the machine running, add the bread in small pieces. With the machine running, add the oil, sherry and water. Strain into a serving bowl. Cover and refrigerate until chilled. Reseason if necessary. To serve, ladle into chilled serving bowls and garnish with melon balls.