Hmm .. in my eyes both of them look odd .. both for the same reason: the "foot" of the waterfall:

The lower one looks as if water falls down, but does not have any kind of impact on the water below.. Almost, as if the water vanishes between top and bottom.

While the upper one looks more realistic, there is one detail missing, though:
When the water hits the lower ground, you can see "beams" of white instead of just a white hue .. You might want to look at these pictures to get a grasp of what I'm saying:
http://www.hdwallpapersinn.com/wp-co.../waterfall.jpg
http://www.hdwallpapersinn.com/wp-co...erfall-830.jpg
http://4photos.net/blog/wp-content/u...-waterfall.jpg

Aside from that: very nice



Kind regards,
Kai