
Heat the butter in a medium saucepan over medium heat. Add the buttermilk and water and heat just until warm to the touch (105 to 115 degrees F). Pour into a large bowl. Sprinkle the yeast on top and let stand for 5 minutes. Whisk to dissolve the yeast. Whisk in the eggs and hot sauce. Sift together flour, sugar, baking powder, baking soda, and salt. Gradually stir into the liquid to make a thick batter. Stir in the Parmesan cheese and 3/4 cup of the Cheddar (or Swiss) cheese. Lightly butter two 8½x4½x2½-inch loaf pans. Spread the batter evenly in the pans. Cover loosely with plastic wrap and let stand in a warm place until doubled in volume, about 45 minutes. Position a rack in the center of the oven and preheat to 375 degrees F. Brush the tops of the loaves with the egg mixture. Bake 25 minutes. Sprinkle the tops of the loaves with the remaining 1/4 cup of shredded Cheddar and bake until the loaves are golden and sound hollow when removed from the pans and tapped on the bottoms, 10 to 15 minutes. Cool in pans for 10 minutes. Turn out onto wire racks and cool completely.