Stunning - although a lover of colour, in this instant the B/W version is superior - much more dynamic - the rocks and Splash are the highlight of this image and not taken away by the blue of the sky !! fav
They both have their strengths - the b&w is more arty and highlights the splashes, as Beryl said. I do love the richness of the scene in colour though.
I really like B&W images, but in this case, I'm all for color. In the monochromatic version, you've shifted the visual focus to the stones in the foreground, while the splash is merely a background. Perhaps brighten the foreground slightly and increase the contrast of the splash?