Saffron butter is a bit of a staple in kebab cuisine, especially Persian style. Toast a few threads of saffron in a pan, crush them in a mortar, steep them in a very little water for a few minutes, finally add the strong saffron "tea" to a little melted butter. Use the saffron butter to baste kebabs just before they come off the grill.
I've never heard of making a saffron infusion with sweetened water -- other than for desserts. Nor have I heard of a compound butter using saffront at all. Doesn't mean it isn't good, just sayin' it's unusual is all.
On the other hand, a compound butter made with highly reduced red wine and shallots and lots of parsley is a classic. So much so that it would be a little surprising that no one recognized it -- but compound butters just aren't that prevalent. Anyway (anywho?), the major variations are cooking the shallots in the red wine, then straining them out, so only their essence goes into the compound butter; and adding back minced, slightly softened shallots to the reduced red wine.
BDL