Preheat oven to 425 degrees. In 9 inch square pan, melt butter. Stir in 1/3 cup brown sugar and water. Set aside.
In large mixing bowl, combine flour, sugar, baking powder and salt. Add milk all at once, stirring just until dry ingredients are moistened. Turn out onto well-floured surface. Roll out to a 12x10 inch rectangle. Combine 1/3 cup brown sugar, cinnamon and pecans. Sprinkle over dough. Roll up starting with 12 inch side. Cut into 1 inch slices; place cut-side down in prepared pan. Bake at 425 degrees for 18 to 22 minutes until golden brown. Turn out immediately. Serve hot.