In a large skillet, bring 1/2 in of water to a boil. Add asparagus; cover and boil for 3 minutes or until crisp-tender. Drain. Transfer to a greased 11x7-in. baking dish. Arrange eggs over the top.
In a large saucepan, melt 1/4 cup of butter; gradually stir in the flour, salt and pepper until smooth. Gradually add milk. Bring to a boil; cook and stir for 2 minutes or until thickened. Reduce heat; stir in cheese until melted. Pour over eggs.
In a small skillet, melt the remaining butter; toss with bread crumbs. Sprinkle over top of casserole. Bake, uncovered, at 375° for 15 minutes or until lightly browned. Serve with toast.
To make soft bread crumbs, tear bread into pieces and place in a food processor or blender. Cover and pulse until crumbs form. One slice of bread yields 1/2 to 3/4 cup crumbs.