I agree with Drac about the floaty look of the water. I like the scene a lot. Maybe a bit more variation in the colors of those people with the horses. The horses people and the clothes have very simular hues. As for the postwork. I'd make the colors in the foreground a bit more like the first version and keep the background like the second render. Maybe a bit more detailing on the rocks (some fractal blending in the TE or an extra bumpmap in the DTE) could make the image look even better. But then again it might not help at all. You could also try a bit highter res and draw some details like hair, grass, sand, little flowers etc. I'm no good at doing 2d painting myself and I don't know if you're good at drawing, but people like Hobbit have shown how much you can add to scenes like this with 2D painting in postwork.

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