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Place the onions and oil in a 2-quart casserole.
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Cover with a lid or vented plastic wrap and microwave on high for 4 minutes, or until tender.
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Transfer to a large no-stick frying pan.
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Saute over medium heat for 5 minutes.
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Stir in the bread crumbs, Romano cheese, basil, mustard and pepper.
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Transfer to a medium bowl and set aside.
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In another medium bowl, whisk together the eggs and water.
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Wipe out the frying pan with paper towels.
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Place it over medium-high heat.
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Add 1 tsp margarine and swirl the pan.
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Add half the eggs.
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Lift and rotate the pan so the eggs are evenly distributed.
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As the eggs set around the edges, lift them to allow uncooked portions to flow underneath.
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When the eggs are mostly set, spread half of the onion mixture over them.
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Use a spatula to fold the omelet in half.
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Transfer to a serving platter.
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Repeat with the remaining margarine, eggs and filling.