Made a new batch of these "doughnuts" today, but this time I didn't deep fry them because I wanted to circumvent the sogginess from so much oil. I put a few in the skillet with a pat of butter, and they fried up like little pancakes - still nice & light, but not puffy.
I put the rest in a 375F (190C) oven for about 10 minutes. The oven ones weren't puffy either, but they might have been if I'd watched a little closer, because it looked like they had puffed up & then fallen . . . they were still cakey. I buttered them like a regular pancake & dusted with erythritol crystals. I think you could frost them like little cookies, which is what snusnuMV did with her first batch.
One tweak I made with this batch, and it's because I always use jumbo eggs, was to delete the extra water so the batter wouldn't be too thin.
I'm going to keep tinkering with these - they're very quick to fix & a nice pick-me-up!