Combine ground beef, 1/2 of the onion, bread crumbs, parsley, cilantro, egg, cumin, paprika, red pepper flakes and, if desired, salt and pepper; shape into 1-inch balls. Arrange meatballs on baking sheet and bake 15 minutes. Remove from oven and set aside.
Heat Olive Oil in 4-quart saucepot over medium heat and cook remaining onion, stirring occasionally, until tender. Stir in garlic, ginger and turmeric and cook 1 minute. Stir in lime juice and Sauce. Reduce heat to low and simmer, stirring occasionally, 10 minutes. Stir in meatballs and cook an additional 10 minutes or until meatballs are done.