Cut off tops of beets; peel thinly, then dice. Bring water to boil in saucepan, add 1/2 tsp. Salt and diced beets. Add more water if necessary. Boil gently, tightly covered, 20-30 minutes until tender. If using pressure cooker, cook 5-6 minutes. Drain beets, reserving liquid.

Combine sugar, cornstarch and 1/4 tsp. Salt in top of double boiler. Stir in 1/4 cup liquid from cooked beets and the orange juice. Cook over direct heat until thick and smooth, stirring constantly. Remove from heat; stir in lemon juice, orange rind and margarine. Add beets, mix lightly. Place over boiling water until thoroughly heated through.