Meanwhile, let's make the bourbon glaze. In a heavy-bottomed medium, placed over moderately high heat, pour in the sugar. Cook until the sugar begins to melt and turns a light golden brown around the edges. Using a silicone spatula, begin to stir until the sugar melts completely and turns a light golden brown. Cook for an additional 30 seconds or so until the sugar turns a golden brown color. Immediately take the pan off the heat and stir in the butter. Once the butter has melted, pour in the bourbon and water. The mixture will bubble up, not to worry - this is normal, just keep stirring until smooth. If the mixture seizes, place the mixture over very low heat and keep stirring until it becomes smooth. The mixture should be thin.