Mix together the water, milk, yeast, and sugar, and allow to sit for 10 minutes.
Add the remaining ingredients and knead 7 to 8 minutes. Cover and let rise until double. (60-90 minutes)
Punch down dough all over, then divide into two equal portions. Shape each into a ball.
Place each ball on a lightly floured surface and roll out into a large circle (13 - 14 inches), keeping the dough as even thickness as possible.
Spread each circle evenly with 2 tbsp of softened butter.
Cut each circle into 4 equal quarters, then cut each quarter into 3 wedges. Each wedge should resemble a slice of pie.
Starting with the wide edge, roll up each wedge.
Place the wedges on a non-stick sprayed (or buttered) cookie sheet. The "tip" of the wedge should be tucked at the bottom.
Cover the rolls loosely with a towel and let rise in a warm place until double in size. (About 1 hour)
Preheat oven to 375 °F.
Uncover the rolls and bake 15 to 19 minutes, or until golden brown.
Remove from oven and brush with melted butter.