Combine yeast and 1/4 cup warm water in a 1-cup glass measuring cup; let stand 5 minutes.
Stir together yeast mixture, 1/4 cup sugar, 6 Tbsp. melted butter, and next 3 ingredients in a large bowl. Gradually stir in flour, making a stiff dough. Cover and let rise in a warm place (85°), free from drafts, 2 hours or until doubled in bulk.
Combine 3/4 cup coconut, orange rind, and remaining 3/4 cup sugar in a small bowl.
Turn dough out onto a well-floured surface, and knead 15 to 16 times or until smooth and elastic. Divide dough into 2 equal portions. Roll 1 dough portion into a 12-inch circle; brush with 1 Tbsp. melted butter, and sprinkle with half of coconut mixture. Cut into 12 equal wedges. Repeat procedure with remaining dough portion.
Roll up wedges, starting at wide end, to form a crescent shape. Place rolls, point sides down, in 3 rows in a 13- x 9-inch baking dish coated with cooking spray. Cover and let rise in a warm place (85°), free from drafts, 1 hour or until doubled in bulk.
Bake at 350° for 25 to 30 minutes or until golden. Remove from oven, and place on a wire rack. Spread Orange Glaze evenly over hot rolls in pan, and sprinkle with remaining 1/4 cup coconut. Serve immediately.