Preheat oven to 350 degrees. Coat 1 1/2- qt baking dish with cooking spray. Melt 2 tablespoons butter in microwave (30 secs or until melted). Stir in breadcrumbs and paprika. Set aside.
Melt remaining 2 tablespoons butter in 4-qt saucepan over medium heat. Add 2 tablespoons flour, stirring constantly until lightly browned. Stir in "Pet" evaporated milk, water and salt. Bring to boil over medium-low heat, stirring constantly.
Stir in cheese and cooked macaroni until blended. Pour into prepared baking dish. Sprinkle evenly with breadcrumb mixture.
Bake 25-30 minutes or until bubbly and light golden brown.