For batter, combine the milk and egg in a blender; cover land process until blended.
Add flour; cover and process until blended.
Cover and refrigerate for 1 hour.
Heat a lightly greased 8-in.skillet over medium heat.
Pour 1/4 cup batter into the center of the skillet; lift and 'tilt the pan to coat evenly.
Cook until the top appears dry; turn and cook 15-20 seconds longer.
Remove and keep warm.
Repeat with the remaining batter, greasing skillet as needed.
Place six asparagus spears on one side of each crepe; roll up the crepes.
Place seam side down in a greased 11-in.x 7-in.x 2-in.baking dish.
Bake, uncovered, at 350° for 10-15 minutes or until heated through.
In a saucepan, whisk the egg yolks and water.
Cook Over low heat, stirring constantly, until the mixture is thickened and coats the back of a metal spoon or until the temperature reaches 1600.
Whisk in butter, lemon juice, salt and cayenne.
Pour over warm crepes; sprinkle with paprika.