"I'm very proud of him," the actress – who, like her costars Sheen and Jon Cryer, is up for an Emmy for her role on the CBS sitcom – told PEOPLE at Friday's Academy of Television & Sciences party for the nominees.
"I think he's really enjoying fatherhood," says Taylor, "and it's really deepened his life and his commitment to life."
Already the father to three daughters – Sam, 4, and Lola, 3, with ex-wife Denise Richards, and Cassandra, 23, with ex-girlfriend Paula Profitt – Sheen, 43, could find himself with a boy at last, if some current buzz turns out to come true.
Asked how she thinks Sheen would fare with a baby boy, Holland says, "That would be a trip! I mean, I think he's a wonderful daddy to his girls – he just adores them, he's very sweet with them. [But] it will be very interesting to see Charlie with a boy. It'll bring out a whole other side of him, I'm sure."
George Clooney's an Old PalAs for Taylor's longtime friend George Clooney, when it's suggested she might help find him a woman to settle down with, Taylor replies, "I think he can have any girl he wants, no problems there."
And she has nothing but compliments to bestow upon George, with whom she appeared briefly but memorably (as Michelle Pfeiffer's urbane mother) in the 1996 romantic comedy, One Fine Day.
"I have known Clooney from a long time ago," says Taylor. "He's a very loyal friend. He never forgets anybody – we might have worked together yesterday, if we considered his tone [with me]. He's just a very friendly, sweet guy."