1. In 2-quart saucepan over medium heat, heat water, butter or margarine, and salt until butter melts and mixture boils. Remove saucepan from heat. With wooden spoon, vigorously stir in flour all at once until mixture forms a ball and leaves side of saucepan.
2. Add eggs to flour mixture, 1 at a time, beating well after each addition, until mixture is smooth and satiny. Cool mixture slightly.
3. Preheat oven to 400°F. Lightly grease and flour large cookie sheet. Using 7-inch plate as guide, trace a circle in flour on cookie sheet. Drop batter by heaping tablespoons into 12 mounds, inside circle, to form a ring.
4. Bake ring 40 minutes or until golden. Turn off oven; let ring remain in oven 15 minutes. Remove ring from oven; cool on wire rack.
5. When ring is cool, with long serrated knife, slice horizontally in half. Prepare Almond-Cream Filling; spoon into bottom of ring. Replace top of ring. Refrigerate.