Heat oven to 350°F Lightly spray large cookie sheet with nonstick cooking spray. In medium saucepan, combine margarine and water. Bring to a boil.
Add flour all at once to boiling mixture; remove from heat. Stir until mixture clings together in smooth ball. Add eggs 1 at a time, beating well after each addition until mixture is smooth and glossy. Beat in 1 teaspoon almond extract.
Unroll dough into 4 rectangles. Firmly press perforations to seal. Cut each rectangle in half lengthwise; make 3 crosswise cuts in each rectangle to make 32 pieces. Place pieces 1 inch apart on sprayed cookie sheet. Mound 2 rounded teaspoons egg mixture onto each dough piece; spread slightly.
Bake at 350°F for 16 to 18 minutes or until golden brown and puffed. Remove from cookie sheet. Cool 20 minutes or until completely cooled.
In small bowl, combine powdered sugar and enough milk for desired glaze consistency, stirring until smooth. Stir in 1/4 teaspoon almond extract. Drizzle glaze over 6 cooled puffs; immediately top with a few sprinkles. Continue with remaining puffs.