Preheat oven to 350 degrees F (175 degrees C). Lightly grease a 9×13 inch baking dish.
In a medium saucepan, bring the water to a boil. Stir in grits, and reduce heat to low. Cover, and cook 5 to 6 minutes, stirring occasionally. Mix in the butter, cheese, seasoning salt, Worcestershire sauce, hot pepper sauce, and salt. Continue cooking for 5 minutes, or until the cheese is melted. Remove from heat, cool slightly, and fold in the eggs. Pour into the prepared baking dish.
Bake 1 hour in the preheated oven, or until the top is lightly browned.