Sprinkle the fish fillets with salt and pepper on both sides.

Place in a lightly greased baking dish, and bake in the oven at 375°F 15 to 20 minutes, or until the fish flakes easily.

While the fish is baking, take 1 of the grapefruits, and zest and juice it. Set the zest and juice aside for now.

With the second grapefruit, use a small, sharp knife to cut away the top and bottom. Now, cut away as much of the skin and white pith as you can.

Take the knife, and over a bowl, cut the flesh of the fruit out of the membrane, so that you have segments of flesh. Set aside for now.

Heat 1 tablespoon of olive oil in a skillet, and saute the shallots for 3 to 5 minutes, until softened.

Add the 1 tablespoon of butter to the skillet, along with the honey, and mix together.

Cook over a medium temperature for 2 to 3 minutes, and stir in the grapefruit juice and zest, wine, and thyme.

Simmer for 5 minutes, then stir in the cream.

Continue to simmer until reduced by about half.

Stir in the additional 1 tablespoon butter, and the grapefruit sections. Season with salt and pepper.

When the fish is ready, remove from the oven, and drizzle with sauce.

Serve immediately.