Peel and core pears from blossom end leaving stems intact. Combine water, orange juice and sugar. Bring to boil. Add pears; poach gently 10-15 minutes or until tender. Remove pears and reserve 1/2 cup liquid.
Cool pears and liquid and then beat butter with powdered sugar until light. Blend in liquid. Cook and stir over low heat 8-10 minutes or until sauce thickens, then cool. Stir in liqueur. Serve warm or cold over pears. If curdles, put in blender for smoothness. May also use cornstarch to thicken.