For the rolls: Preheat the oven to 350 degrees F. Grease a 12-cup muffin tin with butter and dust with granulated sugar. Set aside.
In a small bowl, combine the granulated sugar and cinnamon. Set aside.
Cut the entire pack of rolls in half horizontally (keeping all top and bottom halves separately intact). Open up the rolls like a book on a piece of parchment so they are laying cut-side up. Spread 2 sticks (1 cup) of the butter over the cut side of both halves. Sprinkle half of the cinnamon-sugar mixture over the butter on the bottom half of the rolls, then top with the top half of the rolls, creating a cinnamon-sugar sandwich.
Using a rolling pin, flatten the rolls. Spread the remaining 8 tablespoons butter on top and coat with the remaining cinnamon-sugar. Starting with the long end closest to you, use the parchment paper to roll up the rolls into a tight jelly roll. Slice the roll into 12 slices and place a slice into each cup of the prepared muffin tin. Bake until golden brown and bubbling, about 20 minutes.
For the glaze: Meanwhile, mix the confectioners' sugar, butter and vanilla in a small bowl. Add hot water 1 tablespoon at a time until the glaze reaches the desired consistency.
Cool the rolls in the tin for 10 minutes, then transfer to a plate. Drizzle with the glaze and serve warm.
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