Separate three of the four eggs. Add fourth egg to the yolks. Beat until thick and light coloured (about two minutes). Add honey gradually to yolk mixture, beating until very thick. Beat in food coloring, almond extract, and nutmeg.
Beat egg whites to stiff peak stage (a spoon drawn through the meringue leaves a clear-cut edge). Set aside.
Soften gelatin in cold water. Dissolve over hot water. Set aside to cool slightly.
Whip cream in a chilled bowl, adding cooled gelatin as cream begins to thicken. Continue beating until stiff. Fold honey-egg yolk mixture into whipped cream. Fold in beaten egg whites.
Spoon into 1 1/2 quart (1.69 L) mold or into 3 ice cube trays. Freeze until firm.
Serve garnished with toasted coconut or fresh fruit. This dessert freezes well for up to three months.