STEP ONEHEAT oven to 350º F. Place butter in 13 x 9-inch (3-quart) baking dish; place in oven to melt. Combine sugar and water in medium saucepan; heat until sugar dissolves, stirring frequently. Set aside.
STEP TWOPLACE flour in medium bowl. Cut in shortening with pastry blender or fork until mixture resembles coarse crumbs. Add milk; stir with fork just until mixture begins to pull away from sides of bowl.
STEP THREEKNEAD dough on lightly floured surface just until smooth. Roll out dough to 12 x 10 x 1/4-inch rectangle.
STEP FOURCOMBINE apples and cinnamon in medium bowl; stir to mix. Sprinkle apples evenly over dough. Beginning with long side, roll up jelly-roll fashion. Cut into 16 slices. Arrange slices in baking dish over melted butter. Pour sugar syrup carefully around and over rolls. (This looks like too much liquid, but crust will absorb it.)
STEP FIVEBAKE 40 to 45 minutes or until golden brown. Cool 15 minutes before serving.
STEP ONEAPPLE RAISIN PECAN COBBLER: Sprinkle 1/2 cup raisins over melted butter in baking dish; arrange dough slices over raisins. Sprinkle top with 1/2 cup chopped pecans before baking.