- Preheat oven to 180C fan-forced, and line a 6-hole Texas muffin pan with paper cases.
- Using an electric mixer fitted with a whisk, cream butter and sugar until thick and pale. Add one egg at a time, mixing until combined.
- Meanwhile, combine flour, baking powder, bicarbonate soda, salt and cocoa in a bowl. Slowly add dry mixture to electric mixer, mixing until combined. Gradually mix in cream and water to combine.
- Fill each muffin case to two thirds full, smoothing over surface. Gently push 4 caramel chews into each muffin mixture, taking care not to push too far to the bottom. Sprinkle with sea salt. Divide remaining mixture among cases, ensuring caramels are completely covered.
- Bake muffins in oven for 20 minutes or until cooked through, and caramel is runny when tested with a skewer. Remove from oven and allow to cool slightly.
- To serve, sprinkle with red glitter dust.