Blend the raw cashews with the water for a few minutes, until there are no cashew bits left and it has formed a heavy cream consistency.
Melt the chocolate in a double boiler or microwave. Watch it in the microwave and check every 30 seconds.
Fold the cashew cream into the melted chocolate. Take your time, you don't want to form bubbles or add too much air. Add the vanilla or flavoring when the chocolate is fully integrated with the cream.
Cool in the fridge for 2 hours.
Remove from fridge and use a melon baller or small cookie scoop to form balls. Roll in your favourite topping and store in fridge. These do well at room temperature for parties and such, but I would leave them in the fridge or freezer for longer term storage.