1Set oven control to broil. In 3-quart saucepan, heat water, butter and salt to boiling. Remove from heat. Stir in milk and dry potatoes just until moistened. Let stand about 30 seconds or until liquid is absorbed. Whip with fork until fluffy.
2Spread hot potatoes in ungreased 8-inch square (2-quart) glass baking dish. Spread with salsa. Sprinkle with olives and cheese. Broil with top 3 to 4 inches from heat about 2 minutes or until cheese is melted. Sprinkle with tortilla chips.
3Serve with guacamole, sour cream and cilantro.