Bake biscuits according to package directions; set aside.
Place butter and onion in a lightly greased 9-inch square pan.
Bake at 425° for 7 to 8 minutes.
Whisk together eggs and next 3 ingredients. Pour into hot onion mixture; sprinkle with cheese and crumbled bacon.
Bake for 12 minutes or until set. Let stand 10 minutes. Cut into 9 (3-inch) squares. Serve in biscuits.
NOTE: Recipe may be doubled and baked in a 15X10 inch jellyroll pan. Deluxe Omelet Buscuits may be made ahead and frozen. To reheat, wrap individual frozen omelet biscuits in a paper towel, and microwave at Medium (50% power) 3 1/2 to 4 minute. Or wrap in aluminum foil, and bake at 350' for 20 to 25 minutes.