In a medium saucepan over medium-high heat, combine butter, salt, water and almonds. Bring to a boil and stir in flour, all at once, stirring vigorously until mixture forms a ball. Remove from heat and beat in eggs, one at a time, until thoroughly incorporated. Transfer dough to a pastry bag with a number 8 star tip, and pipe pastry in an 8-inch ring, one inch wide, on a baking sheet.
Bake 50 minutes, or until puffed, set and golden brown. Cool on wire rack.
While pastry is baking, combine cream, sugar, vanilla and almond extracts in a medium bowl and chill in refrigerator for 1 hour. Remove from refrigerator and whip with electric mixer until stiff peaks form.
Split cooled ring in half lengthwise using a sharp knife. Scoop out any soft dough. Place bottom half on serving plate, and fill with whipped cream. Place other half of ring on top, sprinkle with confectioners' sugar and serve.