In shallow 1-quart casserole or 1 1/2-quart (8-inch round) baking dish, combine brown sugar, butter and water.
Cook uncovered, 1 minute, stirring after butter melts.
Stir in nuts.
Separate can of biscuit dough into 10 biscuits.
Cut each into quarters and add to sugar mixture.
Stir to coat each piece.
Push mixture away from center and set a custard cup or glass in center (this makes a ring mold).
Cook uncovered, 2 minutes, 30 seconds or until biscuits are firm and no longer doughy.
Let stand 2 minutes; remove custard cup and invert onto serving plate.