1Heat oven to 350°F. In 1-quart saucepan, melt butter. Coat bottom and sides of 12-cup fluted tube cake pan with 2 tablespoons of the melted butter; sprinkle pan with 3 tablespoons of the nuts. Add remaining nuts, brown sugar and water to remaining melted butter. Heat to boiling, stirring occasionally. Boil 1 minute, stirring constantly.
2Remove dough from cans; do not unroll. Cut each long roll into 8 slices. Arrange 8 slices, cut side down, in nut-lined pan; separate layers of each pinwheel slightly. Spoon half of brown sugar mixture over dough. Place remaining 8 dough slices alternately over bottom layer. Spoon remaining brown sugar mixture over slices.
3Bake 23 to 33 minutes or until deep golden brown. Cool 3 minutes. Turn upside down onto serving platter or waxed paper. Serve warm.