While the meatballs are baking, melt the butter in a large skillet over medium heat. Add sliced onions and sauté 5-7 minutes, stirring often.
Reduce heat to low and cover with a lid. Cook for 15-20 minutes, stirring occasionally to prevent burning, until onions are deep golden brown.
Remove the lid and add beef broth, cooking sherry, flour, granulated sugar, worcestershire sauce, and bay leaves. Bring to a boil, then reduce heat to medium-low.
Simmer, stirring occasionally, 10 minutes or until sauce has reduced to desired thickness. Add the meatballs to the skillet and stir to combine.
Cut rolls lengthwise and arrange them in a 9x13 inch baking pan. Fill each roll with meatballs and caramelized onions. Top with shredded cheese.
Bake at 425° for 5 - 10 minutes, until cheese is fully melted and buns are toasted. Remove from oven and garnish with fresh minced parsley.